6,387 Shares in Trex Company, Inc. (NYSE:TREX) Acquired by Inceptionr LLC

Inceptionr LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the fourth quarter, Holdings Channel reports. The firm purchased 6,387 shares of the construction company’s stock, valued at approximately $441,000.

A number of other hedge funds have also recently added to or reduced their stakes in TREX. US Bancorp DE lifted its position in Trex by 23.8% during the 3rd quarter. US Bancorp DE now owns 13,675 shares of the construction company’s stock worth $910,000 after acquiring an additional 2,629 shares during the period. Van ECK Associates Corp lifted its position in Trex by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company’s stock worth $5,137,000 after acquiring an additional 23,351 shares during the period. Impax Asset Management Group plc lifted its position in Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after acquiring an additional 252,262 shares during the period. Atria Investments Inc lifted its position in Trex by 10.5% during the 3rd quarter. Atria Investments Inc now owns 7,210 shares of the construction company’s stock worth $480,000 after acquiring an additional 683 shares during the period. Finally, Covestor Ltd lifted its position in Trex by 1,759.8% during the 3rd quarter. Covestor Ltd now owns 2,362 shares of the construction company’s stock worth $157,000 after acquiring an additional 2,235 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX stock opened at $56.26 on Friday. The stock has a fifty day moving average price of $67.68 and a 200 day moving average price of $68.50. The stock has a market cap of $6.03 billion, a PE ratio of 25.69, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $54.70 and a 1 year high of $100.77.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TREX shares. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of Trex in a research report on Monday, March 3rd. Truist Financial reduced their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group reduced their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. UBS Group reduced their price target on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Citigroup reduced their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.

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.