Handelsinvest Investeringsforvaltning Sells 1,571 Shares of Trex Company, Inc. (NYSE:TREX)

Handelsinvest Investeringsforvaltning lessened its position in shares of Trex Company, Inc. (NYSE:TREX) by 34.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,024 shares of the construction company’s stock after selling 1,571 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Trex were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd boosted its stake in shares of Trex by 17.9% in the third quarter. Quadrature Capital Ltd now owns 21,966 shares of the construction company’s stock valued at $1,354,000 after buying an additional 3,330 shares during the period. Kennedy Capital Management LLC boosted its stake in shares of Trex by 5.9% in the third quarter. Kennedy Capital Management LLC now owns 157,168 shares of the construction company’s stock valued at $9,686,000 after buying an additional 8,750 shares during the period. Seven Eight Capital LP boosted its stake in shares of Trex by 554.0% in the third quarter. Seven Eight Capital LP now owns 21,006 shares of the construction company’s stock valued at $1,295,000 after buying an additional 17,794 shares during the period. Spouting Rock Asset Management LLC bought a new stake in shares of Trex in the third quarter valued at approximately $294,000. Finally, Tudor Investment Corp Et Al boosted its stake in shares of Trex by 2,017.3% in the third quarter. Tudor Investment Corp Et Al now owns 138,365 shares of the construction company’s stock valued at $8,527,000 after buying an additional 131,830 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the subject of several recent analyst reports. Robert W. Baird cut their target price on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Barclays upped their target price on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Finally, Benchmark restated a “buy” rating and set a $105.00 target price on shares of Trex in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.47.

Trex Price Performance

NYSE TREX traded down $2.47 on Wednesday, reaching $70.12. The company had a trading volume of 200,705 shares, compared to its average volume of 816,800. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.63 and a beta of 1.50. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The business has a 50 day moving average of $85.19 and a two-hundred day moving average of $87.62.

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

Insider Buying and Selling at Trex

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

About Trex

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.