Nicolet Advisory Services LLC Increases Position in Trex Company, Inc. (NYSE:TREX)

Nicolet Advisory Services LLC raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 30.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,482 shares of the construction company’s stock after buying an additional 1,275 shares during the period. Nicolet Advisory Services LLC’s holdings in Trex were worth $526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Trex during the 4th quarter valued at about $25,000. Mather Group LLC. bought a new position in Trex during the 1st quarter worth approximately $26,000. Contravisory Investment Management Inc. bought a new position in Trex during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. grew its position in Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares during the last quarter. Finally, Rise Advisors LLC grew its position in Trex by 305.0% during the 1st 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 last quarter. 95.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now 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 at this link. 0.71% of the stock is currently owned by insiders.

Trex Stock Down 2.0 %

NYSE TREX traded down $1.66 during trading hours on Friday, hitting $81.15. 771,416 shares of the company were exchanged, compared to its average volume of 1,242,571. The stock has a 50-day moving average price of $81.78 and a 200 day moving average price of $87.13. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The stock has a market cap of $8.82 billion, a PE ratio of 34.83, a price-to-earnings-growth 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 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $367.31 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup reduced their price target on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Loop Capital reduced their price target on Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group reduced their price target on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird reduced their price target on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Trex in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given 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 $88.76.

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.