Sit Investment Associates Inc. Sells 13,800 Shares of Trex Company, Inc. $TREX

Sit Investment Associates Inc. lessened its stake in Trex Company, Inc. (NYSE:TREX) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,520 shares of the construction company’s stock after selling 13,800 shares during the quarter. Sit Investment Associates Inc. owned 0.06% of Trex worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TREX. V Square Quantitative Management LLC purchased a new stake in Trex during the 4th quarter valued at about $27,000. Clearstead Trust LLC purchased a new position in Trex in the fourth quarter worth about $33,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Trex in the fourth quarter worth approximately $47,000. Empowered Funds LLC bought a new position in shares of Trex in the fourth quarter worth approximately $50,000. Finally, Rothschild Investment LLC bought a new position in shares of Trex in the third quarter worth approximately $60,000. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TREX shares. DA Davidson reissued a “buy” rating and set a $51.00 price target on shares of Trex in a research report on Friday, June 5th. Barclays reaffirmed an “underweight” rating and issued a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Bank of America cut their target price on Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Citigroup reissued a “neutral” rating and issued a $43.00 target price (down from $46.00) on shares of Trex in a report on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $59.00 price objective (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.42.

Trex Price Performance

Shares of Trex stock opened at $47.13 on Friday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. The company’s 50 day moving average is $41.25 and its 200 day moving average is $39.60. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Sell-side analysts expect that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.

Trex Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.