Monte Financial Group LLC Grows Position in Trex Company, Inc. (NYSE:TREX)

Monte Financial Group LLC raised its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 52.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,427 shares of the construction company's stock after buying an additional 8,028 shares during the period. Monte Financial Group LLC's holdings in Trex were worth $1,303,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Trex by 55.9% in the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after purchasing an additional 408 shares during the period. GAMMA Investing LLC increased its stake in Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after purchasing an additional 965 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Trex during the 4th quarter worth about $122,000. 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 valued at $140,000 after buying an additional 170 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president now directly owns 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction that occurred 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 directly 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 position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented 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 research note on Wednesday, March 5th. Truist Financial lowered their price target on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group dropped their price target on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. BMO Capital Markets upgraded 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. Finally, Stephens lowered their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.65.

Trex Stock Up 1.2%

Shares of Trex stock traded up $0.64 on Tuesday, hitting $55.88. The stock had a trading volume of 1,420,920 shares, compared to its average volume of 1,407,189. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 2.28 and a beta of 1.53. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56. The business's 50 day moving average is $57.01 and its two-hundred day moving average is $62.50.

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 for the quarter, topping the consensus estimate 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 analysts' expectations of $329.11 million. During the same quarter in the previous year, the company earned $0.82 EPS. The business's revenue was down 9.0% on a year-over-year basis. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

About Trex

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.