WCM Investment Management LLC Makes New $243,000 Investment in Trex Company, Inc. (NYSE:TREX)

WCM Investment Management LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,236 shares of the construction company’s stock, valued at approximately $243,000.

Several other hedge funds have also recently added to or reduced their stakes in TREX. Alliancebernstein L.P. boosted its holdings in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the period. Wasatch Advisors LP boosted its holdings in Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock valued at $317,505,000 after acquiring an additional 523,113 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the period. Bamco Inc. NY boosted its holdings in Trex by 6.2% during the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock valued at $148,631,000 after acquiring an additional 126,441 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Trex by 86.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock valued at $140,064,000 after acquiring an additional 939,960 shares during the period. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TREX. UBS Group reduced their price target on Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. BMO Capital Markets upgraded Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target on the stock. Stephens reduced their price target on Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Finally, Citigroup reduced their price target on Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Trex presently has an average rating of “Hold” and a consensus target price of $76.65.

Insider Buying and Selling

In related news, SVP Amy M. Fernandez sold 2,366 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president owned 24,569 shares of the company’s stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president directly owned 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Trex Stock Down 0.6%

TREX stock opened at $58.94 on Friday. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56. The firm has a market cap of $6.32 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.50. The business has a 50 day moving average of $57.13 and a 200 day moving average of $61.52.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The company had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal 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.