105,451 Shares in Trex Company, Inc. (NYSE:TREX) Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 105,451 shares of the construction company’s stock, valued at approximately $10,519,000. Jupiter Asset Management Ltd. owned about 0.10% of Trex as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Trex by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,248,650 shares of the construction company’s stock worth $848,486,000 after buying an additional 96,324 shares during the period. Artisan Partners Limited Partnership grew its holdings in Trex by 19.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after acquiring an additional 660,536 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Trex by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,913,263 shares of the construction company’s stock worth $190,848,000 after acquiring an additional 27,135 shares during the period. TD Asset Management Inc boosted its holdings in Trex by 516.8% during the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after buying an additional 1,341,419 shares in the last quarter. Finally, Norges Bank acquired a new position in Trex during the fourth quarter worth about $113,613,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TREX. Robert W. Baird dropped their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Loop Capital dropped their target price on shares of Trex from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Barclays reduced their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group dropped their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, DA Davidson lowered their target price on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.76.

Trex Price Performance

NYSE:TREX traded down $1.66 during mid-day trading on Friday, reaching $81.15. The company’s stock had a trading volume of 771,416 shares, compared to its average volume of 1,242,571. The company’s fifty day simple moving average is $81.78 and its two-hundred day simple moving average is $87.13. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91. The stock has a market cap of $8.82 billion, a P/E ratio of 34.83, a P/E/G ratio of 1.78 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. During the same period last year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 56.5% on a year-over-year basis. Sell-side analysts expect that Trex Company, Inc. will post 2.26 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

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.