DekaBank Deutsche Girozentrale Purchases 50,000 Shares of Trex Company, Inc. (NYSE:TREX)

DekaBank Deutsche Girozentrale boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the construction company’s stock after purchasing an additional 50,000 shares during the period. DekaBank Deutsche Girozentrale owned about 0.18% of Trex worth $19,716,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TREX. Fifth Third Bancorp grew its holdings in shares of Trex by 13.2% in the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock worth $129,000 after purchasing an additional 181 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Trex during the fourth quarter valued at approximately $213,000. International Assets Investment Management LLC raised its stake in Trex by 3,743.6% in the fourth quarter. International Assets Investment Management LLC now owns 5,381 shares of the construction company’s stock worth $445,000 after buying an additional 5,241 shares in the last quarter. ABLE Financial Group LLC lifted its holdings in Trex by 29.6% during the fourth quarter. ABLE Financial Group LLC now owns 7,985 shares of the construction company’s stock worth $661,000 after buying an additional 1,823 shares during the period. Finally, Capital Insight Partners LLC boosted its position in Trex by 0.9% during the 4th quarter. Capital Insight Partners LLC now owns 38,119 shares of the construction company’s stock valued at $3,156,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 3.9 %

NYSE TREX traded down $3.17 during trading on Friday, hitting $77.26. The stock had a trading volume of 925,535 shares, compared to its average volume of 1,053,728. The company has a market capitalization of $8.40 billion, a PE ratio of 33.16, a PEG ratio of 1.92 and a beta of 1.50. The firm has a 50 day moving average price of $80.28 and a 200 day moving average price of $87.16. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91.

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

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their target price on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Trex in a research note on Tuesday, May 14th. Citigroup reduced their price objective on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Loop Capital dropped their target price on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Trex has a consensus rating of “Hold” and an average price target of $91.27.

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.