Conestoga Capital Advisors LLC Increases Holdings in Trex Company, Inc. (NYSE:TREX)

Conestoga Capital Advisors LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,002,468 shares of the construction company’s stock after purchasing an additional 34,720 shares during the quarter. Trex makes up 1.8% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Conestoga Capital Advisors LLC’s holdings in Trex were worth $116,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TREX. Van ECK Associates Corp raised its position in shares of Trex by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 110,697 shares of the construction company’s stock valued at $7,641,000 after buying an additional 28,971 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Trex by 2.2% during the 4th quarter. Rhumbline Advisers now owns 328,954 shares of the construction company’s stock valued at $22,708,000 after purchasing an additional 7,163 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after purchasing an additional 147 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of Trex by 4.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 5,509 shares of the construction company’s stock valued at $380,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the transaction, the senior vice president now directly owns 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president now owns 24,569 shares of the company’s stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Trex Price Performance

Shares of NYSE TREX opened at $55.54 on Tuesday. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $86.56. The firm has a 50-day simple moving average of $57.26 and a two-hundred day simple moving average of $63.31. The company has a market cap of $5.95 billion, a P/E ratio of 25.36, a PEG ratio of 2.51 and a beta of 1.52.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, equities research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research analyst reports. Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. UBS Group decreased their price objective on Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 target price for the company. Stephens reduced their price target on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Finally, Citigroup lowered their price objective on shares of Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.65.

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.