M&G Plc Grows Position in Trex Company, Inc. (NYSE:TREX)

M&G Plc raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 18.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,197 shares of the construction company’s stock after purchasing an additional 2,233 shares during the period. M&G Plc’s holdings in Trex were worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Trex in the 4th quarter worth $25,000. Mather Group LLC. bought a new position in Trex during the 1st quarter valued at about $26,000. Sunbelt Securities Inc. boosted its holdings in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 shares during the period. Finally, Vestor Capital LLC bought a new stake in shares of Trex in the fourth quarter worth approximately $47,000. Institutional investors own 95.96% of the company’s stock.

Insider Activity at Trex

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 value of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Trex Price Performance

Shares of TREX traded up $2.25 during mid-day trading on Tuesday, reaching $61.42. 1,490,044 shares of the company’s stock traded hands, compared to its average volume of 927,945. The stock’s 50-day moving average is $77.36 and its two-hundred day moving average is $86.43. 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 $6.68 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.02 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. Trex’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Research analysts predict that Trex Company, Inc. will post 2.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TREX. Stifel Nicolaus dropped their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. DA Davidson lowered their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Robert W. Baird cut their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Benchmark reduced their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.88.

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.