Janney Montgomery Scott LLC Acquires 14,670 Shares of Trex Company, Inc. (NYSE:TREX)

Janney Montgomery Scott LLC raised its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 26.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 70,990 shares of the construction company's stock after acquiring an additional 14,670 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Trex worth $4,125,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TREX. Principal Securities Inc. increased its holdings in Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock valued at $213,000 after purchasing an additional 147 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock worth $230,000 after buying an additional 175 shares during the period. Truist Financial Corp increased its stake in shares of Trex by 53.2% in the 4th quarter. Truist Financial Corp now owns 5,479 shares of the construction company's stock valued at $378,000 after acquiring an additional 1,902 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Trex by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 3,806 shares of the construction company's stock valued at $263,000 after acquiring an additional 467 shares during the period. Finally, First Horizon Advisors Inc. raised its position in shares of Trex by 16.0% in the 4th quarter. First Horizon Advisors Inc. now owns 2,648 shares of the construction company's stock valued at $183,000 after acquiring an additional 366 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Transactions at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction dated 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 transaction, the senior vice president now owns 24,569 shares of the company's stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were 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 approximately $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Trex Stock Up 2.7%

NYSE:TREX opened at $55.26 on Tuesday. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56. The business has a 50 day moving average price of $57.01 and a two-hundred day moving average price of $62.50. The company has a market cap of $5.93 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 2.28 and a beta of 1.53.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Bank of America reduced their target price on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $76.65.

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.

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