34,901 Trex Company, Inc. $TREX Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 9.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 319,424 shares of the construction company’s stock after selling 34,901 shares during the period. Confluence Investment Management LLC’s holdings in Trex were worth $13,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TREX. Cim Investment Management Inc. bought a new stake in Trex in the second quarter worth $239,000. Junto Capital Management LP purchased a new stake in Trex during the 2nd quarter valued at about $20,074,000. Sequoia Financial Advisors LLC increased its stake in Trex by 18.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,131 shares of the construction company’s stock valued at $507,000 after purchasing an additional 1,567 shares in the last quarter. Tidal Investments LLC increased its stake in Trex by 129.8% during the 2nd quarter. Tidal Investments LLC now owns 20,629 shares of the construction company’s stock valued at $1,032,000 after purchasing an additional 11,651 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Trex by 449.0% in the second quarter. WINTON GROUP Ltd now owns 194,459 shares of the construction company’s stock worth $9,731,000 after buying an additional 159,039 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

Trex Price Performance

Shares of TREX traded down $0.68 during trading hours on Thursday, hitting $42.88. The stock had a trading volume of 941,360 shares, compared to its average volume of 1,931,241. The firm has a market capitalization of $4.46 billion, a PE ratio of 25.48, a PEG ratio of 3.04 and a beta of 1.47. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $54.30. The stock has a fifty day moving average price of $45.54 and a 200 day moving average price of $43.01.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Trex in a research note on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price target on Trex and gave the company a “hold” rating in a report on Tuesday, August 11th. Stephens increased 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price objective (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.30.

Trex Company Profile

Trex Company, Inc designs, manufactures and distributes composite decking, railing and related outdoor-living products. Its portfolio includes residential and commercial decking systems, railing, outdoor lighting, furniture, and other accessories sold under the Trex brand. The company’s products are positioned as alternatives to traditional wood and are designed to provide durability and lower maintenance.

Trex composite products are made primarily from reclaimed wood fibers and recycled polyethylene film, including materials such as used plastic bags and packaging.