B. Riley Wealth Advisors Inc. Purchases New Position in Trex Company, Inc. (NYSE:TREX)

B. Riley Wealth Advisors Inc. purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,608 shares of the construction company's stock, valued at approximately $318,000.

A number of other hedge funds also recently bought and sold shares of TREX. Xponance Inc. lifted its holdings in shares of Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after acquiring an additional 143 shares during the period. Principal Securities Inc. lifted its stake in Trex by 5.0% during the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. lifted its stake in Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after purchasing an additional 148 shares during the period. Harrington Investments INC lifted its stake in Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after purchasing an additional 159 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after purchasing an additional 170 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TREX has been the subject of several analyst reports. DA Davidson reissued a "neutral" rating and set a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research note on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price for the company. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.65.

Trex Trading Up 3.3%

Shares of TREX traded up $1.76 on Tuesday, reaching $55.33. 842,585 shares of the company's stock traded hands, compared to its average volume of 1,372,749. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $87.43. The stock has a market cap of $5.93 billion, a PE ratio of 25.26, a PEG ratio of 2.51 and a beta of 1.62. The stock's 50 day simple moving average is $57.12 and its two-hundred day simple moving average is $64.41.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. Analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president now directly owns 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president now owns 24,569 shares of the company's stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company's stock.

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.