Flputnam Investment Management Co. Has $359,000 Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Flputnam Investment Management Co. reduced its stake in Trex Company, Inc. (NYSE:TREX) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,338 shares of the construction company’s stock after selling 2,428 shares during the period. Flputnam Investment Management Co.’s holdings in Trex were worth $359,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Trex during the third quarter worth $27,000. Contravisory Investment Management Inc. bought a new stake in shares of Trex in the fourth quarter valued at about $28,000. Headinvest LLC acquired a new position in shares of Trex in the third quarter valued at about $29,000. Finally, Quarry LP bought a new position in Trex during the first quarter worth about $31,000. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TREX shares. JPMorgan Chase & Co. boosted their price objective on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Benchmark increased their price target on Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Barclays raised their price objective on Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their target price on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, UBS Group raised their price target on Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and a consensus target price of $88.72.

Trex Price Performance

Shares of Trex stock opened at $87.96 on Friday. The company’s 50 day moving average price is $94.25 and its two-hundred day moving average price is $79.32. The firm has a market capitalization of $9.55 billion, a P/E ratio of 46.54, a P/E/G ratio of 2.02 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The company had revenue of $195.75 million for the quarter, compared to the consensus estimate of $193.40 million. During the same quarter last year, the business posted $0.23 EPS. Trex’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts expect that Trex Company, Inc. will post 2.21 earnings per share for the current 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.