Putney Financial Group LLC Acquires Shares of 35,776 Trex Company, Inc. (NYSE:TREX)

Putney Financial Group LLC acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,776 shares of the construction company's stock, valued at approximately $2,470,000. Trex makes up about 1.7% of Putney Financial Group LLC's investment portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TREX. Mather Group LLC. lifted its stake in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank lifted its stake in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after buying an additional 202 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Trex by 33.4% in the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after buying an additional 218 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 0.4%

Trex stock opened at $56.96 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $88.84. The company's 50 day moving average is $57.65 and its two-hundred day moving average is $65.12.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now owns 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The transaction 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 business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the transaction, the senior vice president now owns 27,527 shares of the company's stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock worth $323,003 in the last 90 days. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TREX. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target for the company. Wall Street Zen cut Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Finally, UBS Group decreased their price objective on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $76.65.

Trex 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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