Trex Company, Inc. (NYSE:TREX) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Trex Company, Inc. by 2.9%, holding 207,500 shares worth approximately $12.06 million at the end of the first quarter.
• Several hedge funds increased their holdings in Trex, with a total of 95.96% of the stock owned by institutional investors and hedge funds.
• Analysts have a mixed outlook on Trex, with price targets ranging from $65.00 to $80.00 and an average rating of "Moderate Buy."

Swiss National Bank lowered its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,500 shares of the construction company's stock after selling 6,300 shares during the period. Swiss National Bank owned about 0.19% of Trex worth $12,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Trex in the 4th quarter valued at about $17,677,000. Bessemer Group Inc. increased its holdings in shares of Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after acquiring an additional 170 shares during the last quarter. Farringdon Capital Ltd. purchased a new position in shares of Trex in the 4th quarter valued at about $317,000. Dimensional Fund Advisors LP increased its holdings in shares of Trex by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,553 shares of the construction company's stock valued at $106,349,000 after acquiring an additional 36,848 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Trex in the 4th quarter valued at about $321,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Price Performance

Shares of TREX stock traded down $1.91 during midday trading on Friday, hitting $63.09. The company had a trading volume of 1,363,839 shares, compared to its average volume of 1,669,497. The company's 50 day simple moving average is $60.34 and its 200 day simple moving average is $59.89. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $80.74. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 2.64 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. Trex had a return on equity of 21.27% and a net margin of 16.53%. The company had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.49 million. During the same period last year, the business posted $0.80 EPS. The company's revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of recent analyst reports. DA Davidson set a $65.00 price objective on Trex and gave the company a "neutral" rating in a report on Tuesday, August 5th. Robert W. Baird upgraded Trex from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $65.00 to $75.00 in a report on Thursday, July 10th. Benchmark reiterated a "buy" rating and issued a $80.00 price objective on shares of Trex in a report on Monday, May 12th. Stephens dropped their price objective on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, Baird R W upgraded Trex from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $71.93.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 1,538 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total value of $98,708.84. Following the completion of the sale, the senior vice president directly owned 22,953 shares of the company's stock, valued at $1,473,123.54. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.71% of the company's stock.

About Trex

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.