Trex Company, Inc. (NYSE:TREX) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC cut its position in Trex Company, Inc. (NYSE:TREX) by 28.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,338 shares of the construction company’s stock after selling 44,215 shares during the period. Kennedy Capital Management LLC owned 0.10% of Trex worth $11,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TREX. V Square Quantitative Management LLC acquired a new position in Trex during the fourth quarter worth $25,000. Mather Group LLC. acquired a new position in shares of Trex in the 1st quarter valued at $26,000. Sunbelt Securities Inc. lifted its stake in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. Rise Advisors LLC lifted its stake in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of Trex in the 4th quarter valued at $47,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

Shares of TREX traded up $0.91 during midday trading on Tuesday, reaching $84.50. The stock had a trading volume of 852,873 shares, compared to its average volume of 853,873. The firm’s 50 day moving average price is $80.79 and its 200-day moving average price is $87.24. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The company has a market capitalization of $9.18 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.97 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, beating the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 56.5% on a year-over-year basis. On average, equities analysts forecast that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Insider Activity at Trex

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on TREX shares. The Goldman Sachs Group cut their price objective on 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 cut their price target on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Citigroup cut their price target on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Trex in a report on Tuesday, May 14th. Finally, Loop Capital dropped their price objective on Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.76.

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.