Monte Financial Group LLC Purchases 8,028 Shares of Trex Company, Inc. (NYSE:TREX)

Monte Financial Group LLC boosted its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 52.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,427 shares of the construction company's stock after buying an additional 8,028 shares during the quarter. Monte Financial Group LLC's holdings in Trex were worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Huntington National Bank lifted its position in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. lifted its position in Trex by 55.9% during the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after acquiring an additional 408 shares during the last quarter. GAMMA Investing LLC lifted its position in Trex by 137.7% during the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after acquiring an additional 965 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Trex during the 4th quarter worth $122,000. Finally, Bessemer Group Inc. lifted its position in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TREX. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price for the company. Citigroup cut their target price on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Trex presently has a consensus rating of "Hold" and an average target price of $76.65.

Insiders Place Their Bets

In related news, SVP Amy M. Fernandez sold 2,366 shares of the 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 transaction, the senior vice president now directly owns 24,569 shares in the company, valued at $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.71% of the company's stock.

Trex Stock Up 2.1%

NYSE TREX opened at $53.71 on Friday. The stock has a market cap of $5.76 billion, a P/E ratio of 29.51, a PEG ratio of 2.23 and a beta of 1.52. The company's 50-day simple moving average is $57.01 and its 200 day simple moving average is $62.85. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56.

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

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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