State Street Corp boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 724,301 shares of the construction company’s stock after acquiring an additional 32,626 shares during the quarter. State Street Corp owned approximately 2.46% of Trex worth $49,003,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Alps Advisors Inc. grew its holdings in Trex by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock worth $458,000 after acquiring an additional 18 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Trex by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock worth $262,000 after acquiring an additional 41 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Trex by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after acquiring an additional 56 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Trex by 1.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock worth $419,000 after acquiring an additional 100 shares during the last quarter. Finally, Renaissance Group LLC grew its holdings in Trex by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 4,856 shares of the construction company’s stock worth $329,000 after acquiring an additional 119 shares during the last quarter. 92.27% of the stock is currently owned by hedge funds and other institutional investors.

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Trex Company, Inc. (TREX) opened at $104.44 on Friday. The company has a market cap of $3,159.06, a PE ratio of 35.43 and a beta of 2.41.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $140.19 million for the quarter, compared to analyst estimates of $125.30 million. Trex had a net margin of 16.61% and a return on equity of 51.30%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. equities analysts forecast that Trex Company, Inc. will post 3.1 EPS for the current year.

In related news, VP Christopher Paul Gerhard sold 3,920 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $79.69, for a total value of $312,384.80. Following the sale, the vice president now directly owns 26,560 shares in the company, valued at approximately $2,116,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total transaction of $158,461.03. Following the completion of the sale, the director now owns 12,640 shares in the company, valued at $956,974.40. The disclosure for this sale can be found here. Insiders sold a total of 7,129 shares of company stock worth $592,032 over the last quarter. 0.95% of the stock is currently owned by corporate insiders.

A number of equities research analysts have commented on the stock. Griffin Securities lowered shares of Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Trex from a “sell” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Thursday. FBR & Co raised their target price on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 target price on the stock. in a research note on Monday, October 2nd. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $95.00 target price on shares of Trex in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $90.00.

Trex Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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