Trex Company, Inc. (NYSE:TREX) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in Trex Company, Inc. (NYSE:TREX) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,713 shares of the construction company’s stock after acquiring an additional 13,384 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Trex worth $4,743,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TREX. AustralianSuper Pty Ltd acquired a new stake in Trex in the fourth quarter valued at approximately $110,414,000. Wasatch Advisors LP increased its stake in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after purchasing an additional 435,055 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TREX shares. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group lowered their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday. DA Davidson restated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday. Finally, UBS Group lowered their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $78.38.

Trex Price Performance

NYSE:TREX opened at $61.71 on Friday. The firm’s fifty day moving average price is $69.13 and its 200 day moving average price is $68.64. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $100.77. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS 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 during the quarter, compared to the consensus estimate of $160.54 million. As a group, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

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 value of $87,869.60. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.