Sei Investments Co. Has $29.10 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Sei Investments Co. raised its holdings in Trex Company, Inc. (NYSE:TREX) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 421,489 shares of the construction company’s stock after acquiring an additional 66,661 shares during the quarter. Sei Investments Co.’s holdings in Trex were worth $29,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TREX. Wasatch Advisors LP boosted its stake in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares in the last quarter. State Street Corp lifted its holdings in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock valued at $135,834,000 after purchasing an additional 17,405 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after purchasing an additional 35,039 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in Trex during the 4th quarter worth approximately $110,414,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TREX shares. Jefferies Financial Group cut their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Bank of America cut their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. DA Davidson restated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Finally, Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.63.

Trex Price Performance

Shares of Trex stock opened at $62.05 on Wednesday. The stock has a fifty day moving average price of $65.27 and a 200-day moving average price of $68.05. The firm has a market cap of $6.65 billion, a PE ratio of 28.33, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $100.61.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. As a group, equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

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.