Legacy Advisors LLC Raises Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Legacy Advisors LLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 22.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 6,615 shares of the construction company’s stock after acquiring an additional 1,201 shares during the period. Legacy Advisors LLC’s holdings in Trex were worth $384,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pictet Asset Management Holding SA raised its position in Trex by 7.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock worth $1,004,000 after buying an additional 969 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Trex by 26.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company’s stock worth $4,125,000 after buying an additional 14,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Trex by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company’s stock worth $63,965,000 after buying an additional 24,554 shares during the last quarter. Atria Investments Inc raised its position in Trex by 5.3% in the 4th quarter. Atria Investments Inc now owns 7,594 shares of the construction company’s stock worth $524,000 after buying an additional 384 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Trex in the 4th quarter worth about $17,677,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president now directly owns 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the company’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 value of $144,728.22. Following the completion of the transaction, the senior vice president now owns 24,569 shares of the company’s stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Trex Trading Down 0.9%

Shares of NYSE:TREX opened at $55.33 on Thursday. The stock has a 50 day moving average of $57.07 and a 200 day moving average of $62.41. The company has a market cap of $5.93 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.37 and a beta of 1.52. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $86.56.

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

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of recent analyst reports. Barclays decreased their target price on Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target for the company. Stephens reduced their price target on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. UBS Group reduced their price target on shares of Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Finally, BMO Capital Markets raised shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.65.

About Trex

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.