Tiverton Asset Management LLC decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,505 shares of the construction company’s stock after selling 17,495 shares during the period. Tiverton Asset Management LLC owned approximately 0.18% of Trex worth $3,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Alps Advisors Inc. increased its position in Trex by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock worth $458,000 after purchasing an additional 18 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Trex by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after acquiring an additional 56 shares during the period. Virginia Retirement Systems ET AL grew its holdings in shares of Trex by 1.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock worth $419,000 after acquiring an additional 100 shares during the period. Renaissance Group LLC grew its holdings in shares of Trex by 2.5% in the 2nd quarter. Renaissance Group LLC now owns 4,856 shares of the construction company’s stock worth $329,000 after acquiring an additional 119 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Trex by 2.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,798 shares of the construction company’s stock worth $460,000 after acquiring an additional 169 shares during the period. Institutional investors own 92.17% of the company’s stock.

In other Trex news, Director Frank H. Merlotti, Jr. sold 2,093 shares of Trex stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total value of $158,461.03. Following the transaction, the director now owns 12,640 shares in the company, valued at $956,974.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of Trex stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total transaction of $150,860.00. Following the completion of the transaction, the chief financial officer now owns 18,167 shares in the company, valued at approximately $1,370,336.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,680 shares of company stock worth $1,145,196. 0.95% of the stock is owned by corporate insiders.

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TREX has been the topic of a number of research reports. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, June 15th. Seaport Global Securities upgraded Trex from a “neutral” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, June 1st. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $70.00 price target on shares of Trex in a report on Friday, July 14th. Finally, Sidoti initiated coverage on Trex in a report on Thursday, June 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $75.20.

Trex Company, Inc. (TREX) traded down 0.21% during midday trading on Friday, hitting $81.01. The company had a trading volume of 362,851 shares. The company’s 50 day moving average is $76.66 and its 200 day moving average is $70.67. Trex Company, Inc. has a 12-month low of $50.81 and a 12-month high of $82.65. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 31.06 and a beta of 2.32.

Trex (NYSE:TREX) last announced its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Trex had a return on equity of 56.76% and a net margin of 15.12%. The firm had revenue of $158.00 million for the quarter, compared to analysts’ expectations of $160.40 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Trex Company, Inc. will post $2.99 EPS for the current fiscal year.

Trex Company Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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