Rafferty Asset Management LLC Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

Rafferty Asset Management LLC increased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,564 shares of the construction company's stock after purchasing an additional 6,447 shares during the period. Rafferty Asset Management LLC's holdings in Trex were worth $2,317,000 as of its most recent SEC filing.

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

Trex Stock Performance

NYSE TREX traded down $0.22 during mid-day trading on Friday, reaching $56.96. 898,605 shares of the stock were exchanged, compared to its average volume of 1,360,500. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $88.84. The business's fifty day simple moving average is $57.65 and its 200 day simple moving average is $65.07. The stock has a market capitalization of $6.11 billion, a PE ratio of 26.01, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced 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. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the business earned $0.82 earnings per share. Trex's revenue was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

TREX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price on the stock. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their target price on shares of Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Trex currently has a consensus rating of "Hold" and a consensus price target of $76.65.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the 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 directly owns 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,286 shares of company stock worth $323,003. 0.71% of the stock is owned by insiders.

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.