Amundi Cuts Stock Holdings in Trex Company, Inc. $TREX

Amundi cut its position in shares of Trex Company, Inc. (NYSE:TREX) by 15.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 607,749 shares of the construction company’s stock after selling 111,405 shares during the period. Amundi’s holdings in Trex were worth $30,410,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TREX. California State Teachers Retirement System raised its holdings in shares of Trex by 26.6% during the 1st quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock worth $4,710,000 after acquiring an additional 27,189 shares in the last quarter. BlackRock Inc. bought a new stake in Trex in the second quarter worth $525,081,000. Havemeyer Place LP bought a new position in Trex during the fourth quarter valued at $1,417,000. Wesbanco Bank Inc. bought a new stake in shares of Trex in the 1st quarter worth about $932,000. Finally, EFG International AG purchased a new position in Trex in the second quarter worth about $7,197,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of NYSE TREX opened at $44.92 on Friday. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.97. The company has a market cap of $4.67 billion, a PE ratio of 26.74, a P/E/G ratio of 3.01 and a beta of 1.47. The business has a 50-day simple moving average of $45.95 and a two-hundred day simple moving average of $42.62.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts predict that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TREX shares. Stephens upped their price objective on Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. DA Davidson reiterated a “buy” rating and issued a $55.00 price target on shares of Trex in a report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and set a $56.00 target price (up from $49.00) on shares of Trex in a research note on Friday, July 10th. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 price objective (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average price target of $49.30.

Insider Transactions at Trex

In other news, SVP Jacob Rudolph sold 1,400 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.93% of the company’s stock.

About Trex

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company’s composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.