Connable Office Inc. Sells 422 Shares of Trex Company, Inc. (NYSE:TREX)

Connable Office Inc. lessened its position in shares of Trex Company, Inc. (NYSE:TREX) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,512 shares of the construction company’s stock after selling 422 shares during the period. Connable Office Inc.’s holdings in Trex were worth $204,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock worth $97,000 after acquiring an additional 965 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Trex in the first quarter valued at approximately $911,000. State of Alaska Department of Revenue raised its position in shares of Trex by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company’s stock valued at $728,000 after buying an additional 330 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock valued at $1,004,000 after buying an additional 969 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Trex by 26.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company’s stock valued at $4,125,000 after buying an additional 14,670 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.4%

NYSE TREX opened at $64.33 on Tuesday. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.67 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74. The stock has a fifty day simple moving average of $59.22 and a 200 day simple moving average of $60.47.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. Trex’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. Research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the sale, the senior vice president directly owned 24,569 shares in the company, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the sale, the senior vice president owned 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TREX shares. Baird R W upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 10th. Barclays dropped their price target on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Loop Capital lifted their price target on shares of Trex from $62.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, July 10th. Robert W. Baird upgraded shares of Trex from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $65.00 to $75.00 in a research report on Thursday, July 10th. Finally, Citigroup dropped their price target on shares of Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.88.

Trex Company 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.