Vident Advisory LLC Makes New $4.01 Million Investment in Trex Company, Inc. (NYSE:TREX)

Vident Advisory LLC bought a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 40,233 shares of the construction company’s stock, valued at approximately $4,013,000.

Several other hedge funds have also recently modified their holdings of the company. Mather Group LLC. purchased a new position in Trex in the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Trex in the fourth quarter worth $25,000. Sunbelt Securities Inc. increased its holdings in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after purchasing an additional 314 shares during the period. Rise Advisors LLC increased its holdings in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after purchasing an additional 305 shares during the period. Finally, Vestor Capital LLC bought a new position in shares of Trex in the fourth quarter worth $47,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 5.5 %

Shares of NYSE TREX traded up $4.28 on Friday, reaching $82.76. 278,164 shares of the company’s stock traded hands, compared to its average volume of 848,394. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 1.68 and a beta of 1.50. The business’s 50 day simple moving average is $80.97 and its two-hundred day simple moving average is $87.12. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91.

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

Insider Transactions at Trex

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird reduced their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Loop Capital reduced their price objective on Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. The Goldman Sachs Group reduced their price objective on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Barclays reduced their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.76.

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.