Vanguard Group Inc. Has $589.09 Million Stock Position in Trex Company, Inc. $TREX

Vanguard Group Inc. lessened its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,139,231 shares of the construction company's stock after selling 58,243 shares during the period. Vanguard Group Inc. owned 9.46% of Trex worth $589,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TREX. Bessemer Group Inc. increased its stake in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after acquiring an additional 170 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Trex by 0.8% in the first quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock valued at $1,489,000 after purchasing an additional 200 shares in the last quarter. Stephens Inc. AR grew its position in shares of Trex by 3.7% in the 1st quarter. Stephens Inc. AR now owns 6,530 shares of the construction company's stock valued at $379,000 after buying an additional 236 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Trex by 5.8% during the fourth quarter. ProShare Advisors LLC now owns 5,013 shares of the construction company's stock worth $346,000 after purchasing an additional 274 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Trex by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the construction company's stock valued at $1,743,000 after acquiring an additional 300 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the completion of the transaction, the senior vice president owned 22,953 shares of the company's stock, valued at $1,473,123.54. The trade was a 6.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TREX shares. UBS Group restated a "neutral" rating and issued a $74.00 price target (up from $72.00) on shares of Trex in a research note on Tuesday, August 5th. Robert W. Baird raised shares of Trex from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Thursday, July 10th. DA Davidson set a $65.00 price objective on shares of Trex and gave the company a "neutral" rating in a research report on Tuesday, August 5th. B. Riley upgraded shares of Trex to a "strong-buy" rating in a research report on Monday, July 21st. Finally, Baird R W raised 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.93.

Trex Price Performance

TREX traded down $0.81 on Monday, hitting $62.28. The company had a trading volume of 251,755 shares, compared to its average volume of 1,610,709. The company's fifty day moving average price is $60.34 and its 200 day moving average price is $59.79. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $80.74. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The business had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. During the same period in the previous year, the company earned $0.80 earnings per share. Trex's revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

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.