Hennion & Walsh Asset Management Inc. Lowers Position in Trex Company, Inc. (NYSE:TREX)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,490 shares of the construction company’s stock after selling 300 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Trex were worth $647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Trex in the fourth quarter worth $25,000. Mather Group LLC. purchased a new stake in shares of Trex in the 1st quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in shares of Trex in the 4th quarter worth about $28,000. Headinvest LLC purchased a new position in Trex during the 3rd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. boosted its stake in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

TREX has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Trex in a report on Tuesday, May 14th. Robert W. Baird lowered their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Barclays increased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average price target of $89.47.

Insider Transactions at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction 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 in the company, valued at $2,340,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.

Trex Stock Performance

Trex stock opened at $72.59 on Wednesday. The stock has a market cap of $7.89 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.50. The stock has a fifty day moving average of $85.19 and a 200 day moving average of $87.62. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

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

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.