Trex Company, Inc. (NYSE:TREX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TREX. Bessemer Group Inc. grew its position 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 worth $140,000 after buying an additional 170 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Trex by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock worth $1,489,000 after buying an additional 200 shares during 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 worth $379,000 after buying an additional 236 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Trex by 5.8% in the 4th quarter. ProShare Advisors LLC now owns 5,013 shares of the construction company's stock worth $346,000 after buying an additional 274 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Trex by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the construction company's stock worth $1,743,000 after buying an additional 300 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Trex Trading Down 2.9%

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

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. Trex had a return on equity of 21.27% and a net margin of 16.53%. Trex's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. On average, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

TREX has been the topic of several research analyst reports. UBS Group reissued a "neutral" rating and set a $74.00 target price (up previously from $72.00) on shares of Trex in a research report on Tuesday, August 5th. Loop Capital restated a "hold" rating and set a $66.00 price objective on shares of Trex in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Trex from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens reduced their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Finally, Robert W. Baird upgraded shares of Trex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $65.00 to $75.00 in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Trex presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.93.

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.