Principal Financial Group Inc. boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 236,364 shares of the construction company’s stock after buying an additional 5,521 shares during the period. Principal Financial Group Inc. owned about 0.81% of Trex Company worth $16,401,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TREX. Whittier Trust Co. purchased a new stake in shares of Trex Company during the first quarter valued at approximately $103,000. Russell Investments Group Ltd. purchased a new stake in shares of Trex Company during the fourth quarter valued at approximately $127,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Trex Company during the first quarter valued at approximately $177,000. Fox Run Management L.L.C. purchased a new stake in shares of Trex Company during the first quarter valued at approximately $201,000. Finally, LS Investment Advisors LLC increased its stake in shares of Trex Company by 153.6% in the first quarter. LS Investment Advisors LLC now owns 2,949 shares of the construction company’s stock valued at $205,000 after buying an additional 1,786 shares during the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Trex Company (NYSE:TREX)

Shares of Trex Company, Inc. (NYSE TREX) opened at 68.82 on Friday. The stock’s 50 day moving average is $66.30 and its 200 day moving average is $68.05. Trex Company, Inc. has a 12 month low of $39.74 and a 12 month high of $78.15. The company has a market cap of $2.02 billion, a P/E ratio of 28.11 and a beta of 2.30.

Trex Company (NYSE:TREX) last released its earnings results on Thursday, May 4th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. Trex Company had a net margin of 14.35% and a return on equity of 61.02%. The company had revenue of $144.80 million for the quarter, compared to the consensus estimate of $144.26 million. During the same quarter in the previous year, the company earned $0.79 EPS. Trex Company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Trex Company, Inc. will post $2.85 EPS for the current fiscal year.

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Several brokerages have commented on TREX. Sidoti began coverage on shares of Trex Company in a research note on Thursday, June 15th. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Trex Company from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. FBR & Co upped their target price on shares of Trex Company from $61.00 to $69.00 and gave the company a “mkt perform” rating in a research note on Tuesday, February 28th. Seaport Global Securities raised shares of Trex Company from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Thursday, June 1st. Finally, Griffin Securities reissued a “buy” rating on shares of Trex Company in a research report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Trex Company currently has a consensus rating of “Buy” and an average target price of $69.20.

In other Trex Company news, insider James E. Cline sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00. Following the completion of the sale, the insider now owns 53,381 shares in the company, valued at approximately $3,469,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William R. Gupp sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $64.78, for a total transaction of $226,730.00. Following the sale, the senior vice president now owns 41,811 shares of the company’s stock, valued at approximately $2,708,516.58. The disclosure for this sale can be found here. Insiders have sold a total of 20,557 shares of company stock worth $1,332,987 in the last quarter. 0.95% of the stock is owned by corporate insiders.

About Trex Company

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.

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