Covestor Ltd Grows Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Covestor Ltd grew its holdings in Trex Company, Inc. (NYSE:TREX) by 36.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,222 shares of the construction company’s stock after buying an additional 860 shares during the period. Covestor Ltd’s holdings in Trex were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TREX. Wilmington Savings Fund Society FSB purchased a new position in Trex in the third quarter worth about $30,000. Mather Group LLC. lifted its stake 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 increased its position in shares of Trex by 1,212.8% during 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 raised its holdings in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after buying an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in Trex in the fourth quarter worth $41,000. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TREX has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price objective on the stock. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. UBS Group decreased their price target on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Truist Financial dropped their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.24.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by insiders.

Trex Stock Performance

NYSE TREX traded down $2.12 during trading hours on Thursday, hitting $55.19. The company had a trading volume of 186,973 shares, compared to its average volume of 1,274,620. The business has a 50 day moving average of $61.03 and a 200-day moving average of $67.12. The company has a market cap of $5.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $94.00.

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

About Trex

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.