MQS Management LLC Invests $439,000 in Trex Company, Inc. (NYSE:TREX)

MQS Management LLC purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,401 shares of the construction company’s stock, valued at approximately $439,000.

A number of other institutional investors also recently bought and sold shares of TREX. CANADA LIFE ASSURANCE Co raised its holdings in Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock worth $7,746,000 after purchasing an additional 17,376 shares in the last quarter. Bessemer Group Inc. lifted its position in Trex by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 5,113 shares of the construction company’s stock valued at $510,000 after acquiring an additional 636 shares during the period. Seven Eight Capital LP purchased a new position in Trex during the 1st quarter valued at about $201,000. O Shaughnessy Asset Management LLC bought a new stake in Trex during the first quarter worth about $324,000. Finally, Covestor Ltd grew its holdings in Trex by 11.3% in the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

Shares of TREX stock traded up $2.00 on Thursday, reaching $78.50. The stock had a trading volume of 781,867 shares, compared to its average volume of 852,212. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The stock has a market cap of $8.53 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.50. The company has a 50 day simple moving average of $81.17 and a 200 day simple moving average of $87.18.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $367.31 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TREX shares. Robert W. Baird lowered their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Loop Capital cut their target price on Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. The Goldman Sachs Group reduced their price target on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Citigroup dropped their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.76.

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.