Trex Company, Inc. (NYSE:TREX) Stake Lowered by Evermay Wealth Management LLC

Evermay Wealth Management LLC reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,277 shares of the construction company’s stock after selling 200 shares during the period. Evermay Wealth Management LLC’s holdings in Trex were worth $602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Investments LLC purchased a new position in shares of Trex during the 4th quarter valued at $2,271,000. WCM Investment Management LLC boosted its holdings in Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after purchasing an additional 21,486 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Trex by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,152,445 shares of the construction company’s stock worth $95,415,000 after purchasing an additional 90,025 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Trex in the third quarter worth $4,053,000. Finally, Summit Creek Advisors LLC boosted its holdings in Trex by 24.9% in the fourth quarter. Summit Creek Advisors LLC now owns 269,006 shares of the construction company’s stock worth $22,271,000 after purchasing an additional 53,708 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 1.4 %

NYSE TREX traded up $1.18 on Friday, reaching $88.30. The company’s stock had a trading volume of 445,411 shares, compared to its average volume of 840,944. The firm has a market cap of $9.60 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.60. The business has a 50-day moving average price of $92.31 and a 200 day moving average price of $85.22. Trex Company, Inc. has a 52 week low of $51.03 and a 52 week high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Analysts anticipate that Trex Company, Inc. will post 2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. DA Davidson upped their price objective on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Robert W. Baird cut their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. UBS Group boosted their target price on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group boosted their target price on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $89.47.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s 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 sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.71% of the company’s stock.

Trex Company 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.