Polen Capital Management LLC Has $2.23 Million Position in Trex Company, Inc. (NYSE:TREX)

Polen Capital Management LLC cut its position in Trex Company, Inc. (NYSE:TREX) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,873 shares of the construction company’s stock after selling 2,589 shares during the quarter. Polen Capital Management LLC’s holdings in Trex were worth $2,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in shares of Trex in the third quarter valued at about $204,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Trex by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,341 shares of the construction company’s stock worth $51,482,000 after purchasing an additional 4,386 shares during the period. Van ECK Associates Corp raised its position in shares of Trex by 42.8% in the third quarter. Van ECK Associates Corp now owns 26,041 shares of the construction company’s stock valued at $1,605,000 after buying an additional 7,806 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Trex by 11.9% in the third quarter. HighTower Advisors LLC now owns 8,873 shares of the construction company’s stock valued at $547,000 after buying an additional 943 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in Trex during the 3rd quarter worth $27,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total value of $1,494,396.00. Following the transaction, 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 SEC, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

Trex Trading Down 2.2 %

NYSE:TREX traded down $1.91 during trading hours on Friday, hitting $84.48. 547,545 shares of the company were exchanged, compared to its average volume of 775,699. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.56. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91. The company has a fifty day simple moving average of $88.29 and a 200 day simple moving average of $87.03.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was up 56.5% on a year-over-year basis. Equities research analysts predict that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on TREX shares. DA Davidson raised their target price on shares of Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price target on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Barclays raised their price objective on Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and set a $105.00 target price on shares of Trex in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $89.47.

Trex 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.