Ontario Teachers Pension Plan Board Raises Position in Trex Company, Inc. (NYSE:TREX)

Ontario Teachers Pension Plan Board boosted its stake in Trex Company, Inc. (NYSE:TREX) by 559.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,292 shares of the construction company’s stock after buying an additional 14,669 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Trex were worth $1,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Trex in the fourth quarter worth about $25,000. Mather Group LLC. purchased a new position in shares of Trex during the first quarter valued at approximately $26,000. Sunbelt Securities Inc. lifted its holdings in shares of Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after buying an additional 305 shares during the last quarter. Finally, Vestor Capital LLC bought a new position in Trex during the 4th quarter valued at approximately $47,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TREX shares. Robert W. Baird reduced their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Barclays reduced their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Citigroup reduced their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Trex in a research report on Tuesday, May 14th. Finally, DA Davidson lowered their target price on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $88.76.

Trex Price Performance

Shares of NYSE:TREX traded down $2.28 during trading hours on Tuesday, hitting $79.44. 33,558 shares of the company’s stock traded hands, compared to its average volume of 843,445. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The business has a fifty day moving average price of $81.66 and a 200-day moving average price of $87.24. The firm has a market capitalization of $8.63 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 1.78 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. Trex’s quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. As a group, equities analysts predict that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is owned by company insiders.

Trex Company 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.