Versant Capital Management Inc Increases Holdings in Trex Company, Inc. (NYSE:TREX)

Versant Capital Management Inc lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 29,700.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 894 shares of the construction company’s stock after purchasing an additional 891 shares during the quarter. Versant Capital Management Inc’s holdings in Trex were worth $66,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TREX. Vident Advisory LLC bought a new position in shares of Trex in the first quarter worth approximately $4,013,000. Comerica Bank grew its holdings in Trex by 3.8% in the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after acquiring an additional 8,036 shares during the last quarter. Broad Bay Capital Management LP increased its position in shares of Trex by 3.8% in the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after acquiring an additional 15,000 shares during the period. Fisher Asset Management LLC raised its stake in shares of Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock valued at $8,173,000 after acquiring an additional 4,534 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Trex by 9.4% during the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after purchasing an additional 21,486 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of Trex stock traded up $1.01 during midday trading on Tuesday, hitting $76.46. The company had a trading volume of 1,682,120 shares, compared to its average volume of 862,500. The stock has a market capitalization of $8.31 billion, a P/E ratio of 32.82, a P/E/G ratio of 1.85 and a beta of 1.50. The company has a 50 day moving average of $79.82 and a 200 day moving average of $87.17. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results 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. The company had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. Equities research analysts forecast that Trex Company, Inc. will post 2.26 EPS for the current year.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the 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 sale, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TREX shares. Loop Capital reduced their price target on Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Trex in a research report on Tuesday, May 14th. DA Davidson lowered their price target on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Robert W. Baird lowered their price target on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, Citigroup lowered their price target on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.27.

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.