Handelsinvest Investeringsforvaltning Reduces Stock Position in Trex Company, Inc. (NYSE:TREX)

Handelsinvest Investeringsforvaltning lowered its stake in Trex Company, Inc. (NYSE:TREX) by 34.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,024 shares of the construction company’s stock after selling 1,571 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Trex were worth $302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in Trex in the fourth quarter worth approximately $25,000. Mather Group LLC. bought a new position in Trex in the first quarter worth approximately $26,000. Contravisory Investment Management Inc. bought a new position in Trex in the fourth quarter worth approximately $28,000. Headinvest LLC bought a new position in Trex in the third quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. raised its position in Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TREX shares. Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Robert W. Baird decreased their price objective on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, Barclays raised their price objective on shares of Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.47.

Trex Stock Performance

Shares of NYSE:TREX traded down $2.47 on Wednesday, reaching $70.12. The company’s stock had a trading volume of 200,705 shares, compared to its average volume of 816,800. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The company has a market cap of $7.62 billion, a P/E ratio of 31.15, a PEG ratio of 1.63 and a beta of 1.50. The company has a 50-day simple moving average of $85.19 and a 200 day simple moving average of $87.62.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. During the same period last year, the company posted $0.38 EPS. The business’s revenue was up 56.5% on a year-over-year basis. On average, equities research analysts forecast that Trex Company, Inc. will post 2.26 EPS 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.