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

Janney Montgomery Scott LLC boosted its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 26.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 70,990 shares of the construction company's stock after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Trex worth $4,125,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Xponance Inc. increased its position in Trex by 0.7% during the fourth 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. grew its position in shares of Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after purchasing an additional 147 shares in the last quarter. Harrington Investments INC increased its holdings in shares of 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. Bessemer Group Inc. raised its position in shares of Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after buying an additional 170 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock valued at $230,000 after buying an additional 175 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of recent research reports. UBS Group lowered their price objective on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Citigroup dropped their price target on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective on the stock. Finally, Stephens dropped their target price on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $76.65.

Trex Stock Up 2.5%

Trex stock traded up $1.32 during trading hours on Friday, hitting $54.88. The stock had a trading volume of 4,721,933 shares, compared to its average volume of 1,429,308. The business's 50 day simple moving average is $57.03 and its 200-day simple moving average is $62.24. Trex Company, Inc. has a one year low of $49.01 and a one year high of $86.56. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 2.35 and a beta of 1.52.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the business earned $0.82 EPS. The firm's quarterly revenue was down 9.0% on a year-over-year basis. Research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

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

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.