Mitchell Capital Management Co. Has $4.77 Million Stake in Trex Company, Inc. (NYSE:TREX)

Mitchell Capital Management Co. grew its holdings in Trex Company, Inc. (NYSE:TREX) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,164 shares of the construction company’s stock after purchasing an additional 4,114 shares during the period. Mitchell Capital Management Co. owned about 0.06% of Trex worth $4,774,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TREX. AustralianSuper Pty Ltd acquired a new position in Trex in the fourth quarter worth approximately $110,414,000. Wasatch Advisors LP increased its holdings in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after buying an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after buying an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TREX shares. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Bank of America dropped their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. DA Davidson restated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. UBS Group decreased their target price on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average price target of $78.38.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

Trex Trading Up 2.3 %

TREX opened at $61.71 on Friday. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $100.77. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. The business has a 50 day moving average of $68.96 and a 200-day moving average of $68.65.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

About Trex

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.