Oak Thistle LLC Purchases Shares of 4,303 Trex Company, Inc. (NYSE:TREX)

Key Points

• Oak Thistle LLC has made a new investment of approximately $250,000 in Trex Company, purchasing 4,303 shares in the 1st quarter.
• Trex Company reported earnings of $0.60 per share for the last quarter, surpassing analysts' expectations and showing a net margin of 17.69%.
• Analysts have a consensus rating of "Moderate Buy" for Trex stock, with a current price target averaging $74.88.

Oak Thistle LLC bought a new stake in Trex Company, Inc. (NYSE:TREX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,303 shares of the construction company's stock, valued at approximately $250,000.

A number of other large investors also recently modified their holdings of the stock. Huntington National Bank lifted its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares in the last quarter. Blue Trust Inc. lifted its holdings in Trex by 55.9% during the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after acquiring an additional 408 shares during the period. GAMMA Investing LLC lifted its holdings in Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after acquiring an additional 965 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Trex during the 4th quarter worth $122,000. Finally, Bessemer Group Inc. raised its stake in shares of Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after purchasing an additional 170 shares during the period. Institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TREX shares. B. Riley upgraded Trex to a "strong-buy" rating in a research note on Monday, July 21st. Barclays lowered their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price target on the stock. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Finally, Robert W. Baird raised shares of Trex from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Trex has a consensus rating of "Moderate Buy" and a consensus price target of $74.88.

Trex Trading Down 0.5%

Shares of Trex stock traded down $0.33 during trading on Tuesday, hitting $67.16. The stock had a trading volume of 200,804 shares, compared to its average volume of 1,591,005. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 2.88 and a beta of 1.50. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $86.56. The business's 50-day moving average is $58.47 and its 200 day moving average is $60.63.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. The company's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president directly owned 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president directly owned 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.