Interval Partners LP Purchases Shares of 51,625 Trex Company, Inc. (NYSE:TREX)

Interval Partners LP purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,625 shares of the construction company’s stock, valued at approximately $5,150,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Trex during the fourth quarter worth about $113,613,000. TD Asset Management Inc grew its position in Trex by 516.8% during the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after buying an additional 1,341,419 shares in the last quarter. Epoch Investment Partners Inc. grew its position in Trex by 250.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after buying an additional 670,665 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Trex by 19.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after purchasing an additional 660,536 shares during the period. Finally, Motley Fool Asset Management LLC lifted its stake in Trex by 287.5% during the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock worth $32,400,000 after purchasing an additional 240,989 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TREX. Barclays cut their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Loop Capital cut their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group cut their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Citigroup cut their target price on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, DA Davidson cut their target price on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $88.76.

Trex Stock Up 0.7 %

TREX stock traded up $0.57 during trading on Wednesday, hitting $85.07. The company had a trading volume of 333,649 shares, compared to its average volume of 850,359. The firm has a 50-day moving average price of $80.72 and a 200-day moving average price of $87.26. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.00 and a beta of 1.50.

Trex (NYSE:TREX) last released its earnings results 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 firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same quarter in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was up 56.5% compared to the same quarter last year. Equities analysts expect that Trex Company, Inc. will post 2.26 EPS for the current 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.