Trex Company, Inc. (NYSE:TREX) Director Sells $87,869.60 in Stock

Trex Company, Inc. (NYSE:TREX) Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Trex Trading Up 2.0 %

Shares of NYSE:TREX traded up $1.19 during trading on Friday, reaching $61.52. The stock had a trading volume of 819,591 shares, compared to its average volume of 1,332,260. The firm’s 50-day simple moving average is $69.13 and its 200 day simple moving average is $68.64. Trex Company, Inc. has a one year low of $58.68 and a one year high of $100.77. The company has a market capitalization of $6.59 billion, a P/E ratio of 28.08, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Equities research analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in Trex in the third quarter valued at about $30,000. Mather Group LLC. raised its position in shares of Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after purchasing an additional 473 shares during the last quarter. Huntington National Bank boosted its stake in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after purchasing an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Trex during the 4th quarter worth approximately $41,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TREX shares. DA Davidson reiterated a “neutral” rating and set a $74.00 price objective on shares of Trex in a report on Tuesday. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group reduced their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial dropped their price target on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.38.

Trex Company 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.