Bank of New York Mellon Corp Purchases Shares of 600,767 Trex Company, Inc. $TREX

Bank of New York Mellon Corp purchased a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 600,767 shares of the construction company's stock, valued at approximately $30,062,000. Bank of New York Mellon Corp owned about 0.58% of Trex as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Trex during the 4th quarter worth approximately $33,000. Ascentis Independent Advisors acquired a new position in Trex during the 1st quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Trex in the fourth quarter worth $47,000. Empowered Funds LLC purchased a new position in shares of Trex in the fourth quarter worth $50,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Trex during the second quarter worth $58,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. This represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.93% of the company's stock.

Trex Price Performance

NYSE TREX opened at $45.84 on Friday. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The company has a market capitalization of $4.76 billion, a PE ratio of 27.29, a P/E/G ratio of 3.16 and a beta of 1.48. The company has a fifty day moving average of $46.72 and a 200 day moving average of $42.49.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.Trex's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. Research analysts expect that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TREX. Stephens upped their target price on Trex from $45.00 to $50.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 28th. Wall Street Zen raised Trex from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. BMO Capital Markets set a $57.00 price target on Trex in a research note on Wednesday, August 5th. Barclays reissued an "underweight" rating and issued a $42.00 price objective (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Zacks Research upgraded Trex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $49.30.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.

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