Trex Company, Inc. $TREX Stake Decreased by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in Trex Company, Inc. (NYSE:TREX) by 9.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 319,424 shares of the construction company’s stock after selling 34,901 shares during the period. Confluence Investment Management LLC owned about 0.31% of Trex worth $13,914,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new position in shares of Trex during the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Trex in the 4th quarter worth approximately $47,000. Versant Capital Management Inc purchased a new stake in shares of Trex in the 2nd quarter valued at $58,000. Parallel Advisors LLC grew its holdings in shares of Trex by 77.6% during the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company’s stock valued at $77,000 after purchasing an additional 926 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Trex by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 1,584 shares of the construction company’s stock worth $79,000 after purchasing an additional 684 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TREX. DA Davidson reaffirmed a “buy” rating and set a $55.00 price objective on shares of Trex in a research note on Tuesday, July 14th. Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $49.00 price objective on Trex and gave the company a “hold” rating in a research note on Tuesday, August 11th. Citigroup restated a “neutral” rating and issued a $52.00 target price (up from $43.00) on shares of Trex in a report on Wednesday, July 15th. Finally, UBS Group reiterated a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.30.

Trex Trading Down 1.6%

Shares of TREX stock traded down $0.68 during trading hours on Thursday, reaching $42.88. The company’s stock had a trading volume of 941,360 shares, compared to its average volume of 1,931,241. Trex Company, Inc. has a one year low of $29.77 and a one year high of $54.30. The stock has a market capitalization of $4.46 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.04 and a beta of 1.47. The firm’s fifty day simple moving average is $45.54 and its 200 day simple moving average is $43.01.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The company had revenue of $418.02 million for the quarter, compared to analysts’ expectations of $415.71 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Amy M. Fernandez sold 1,050 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares of the company’s stock, valued at $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by corporate insiders.

About Trex

Trex Company, Inc designs, manufactures and distributes composite decking, railing and related outdoor-living products. Its portfolio includes residential and commercial decking systems, railing, outdoor lighting, furniture, and other accessories sold under the Trex brand. The company’s products are positioned as alternatives to traditional wood and are designed to provide durability and lower maintenance.

Trex composite products are made primarily from reclaimed wood fibers and recycled polyethylene film, including materials such as used plastic bags and packaging.