M&G Plc Invests $1.20 Million in Trex Company, Inc. (NYSE:TREX)

M&G Plc purchased a new position in Trex Company, Inc. (NYSE:TREX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,964 shares of the construction company’s stock, valued at approximately $1,196,000.

A number of other hedge funds also recently modified their holdings of TREX. Norges Bank bought a new stake in shares of Trex in the 4th quarter worth approximately $113,613,000. TD Asset Management Inc raised its holdings in shares of Trex by 516.8% in the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after purchasing an additional 1,341,419 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Trex by 250.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after purchasing an additional 670,665 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Trex by 19.2% in the 4th 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 raised its holdings in shares of Trex by 287.5% in the 1st 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. Institutional investors own 95.96% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $105.00 target price on shares of Trex in a report on Tuesday, May 14th. The Goldman Sachs Group lowered their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Robert W. Baird decreased their price target on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. DA Davidson decreased their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Citigroup decreased their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and an average price target of $88.76.

Trex Price Performance

NYSE TREX traded down $1.66 during trading on Friday, hitting $81.15. 771,416 shares of the company’s stock traded hands, compared to its average volume of 1,242,571. The stock has a fifty day moving average of $81.78 and a two-hundred day moving average of $87.13. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The firm has a market cap of $8.82 billion, a P/E ratio of 34.83, a PEG ratio of 1.78 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that Trex Company, Inc. will post 2.26 earnings per share 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.