Shares of Trex Company Inc (NYSE:TREX) dropped 5.1% on Monday . The company traded as low as $83.40 and last traded at $84.01. Approximately 611,220 shares changed hands during trading, an increase of 43% from the average daily volume of 427,804 shares. The stock had previously closed at $88.48.

TREX has been the subject of a number of analyst reports. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. ValuEngine lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.58.

The company has a market cap of $5.19 billion, a price-to-earnings ratio of 55.99 and a beta of 2.39.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 30th. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Trex had a net margin of 18.48% and a return on equity of 46.45%. The business had revenue of $206.69 million during the quarter, compared to analyst estimates of $190.80 million. During the same period last year, the business earned $0.97 EPS. Trex’s revenue was up 30.9% compared to the same quarter last year. equities research analysts anticipate that Trex Company Inc will post 2.35 earnings per share for the current fiscal year.

In other news, Director Frank H. Merlotti, Jr. sold 3,051 shares of Trex stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $77.39, for a total value of $236,116.89. Following the completion of the sale, the director now directly owns 24,242 shares in the company, valued at $1,876,088.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Paul Gerhard sold 2,990 shares of Trex stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $83.58, for a total transaction of $249,904.20. The disclosure for this sale can be found here. Insiders sold 26,175 shares of company stock valued at $2,057,493 over the last quarter. Company insiders own 0.95% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Trex by 111.2% in the second quarter. BlackRock Inc. now owns 8,768,747 shares of the construction company’s stock worth $548,836,000 after acquiring an additional 4,616,478 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Trex by 95.1% in the second quarter. Eagle Asset Management Inc. now owns 1,903,782 shares of the construction company’s stock worth $119,157,000 after acquiring an additional 928,019 shares during the period. Wasatch Advisors Inc. grew its stake in shares of Trex by 114.1% in the second quarter. Wasatch Advisors Inc. now owns 1,819,058 shares of the construction company’s stock worth $113,855,000 after acquiring an additional 969,587 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Trex by 73.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,441,828 shares of the construction company’s stock worth $90,245,000 after acquiring an additional 609,638 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Trex by 113.0% in the second quarter. Conestoga Capital Advisors LLC now owns 1,385,177 shares of the construction company’s stock worth $86,698,000 after acquiring an additional 734,753 shares during the period. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Trex Company Profile (NYSE:TREX)

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

Further Reading: Return on Investment (ROI)

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