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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in 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 purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its position in 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 acquiring an additional 473 shares during the period. Huntington National Bank raised its position in 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 acquiring an additional 393 shares during the period. V Square Quantitative Management LLC raised its position in 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 acquiring an additional 202 shares during the period. Finally, UMB Bank n.a. raised its position in 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 acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of Trex 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 completion of the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. The trade was a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock valued at $323,003 in the last three months. Corporate insiders own 0.71% of the company's stock.

Trex Stock Performance

Shares of NYSE TREX opened at $60.61 on Tuesday. The company has a market cap of $6.50 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.51 and a beta of 1.62. The firm's fifty day moving average is $57.55 and its two-hundred day moving average is $65.46. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $88.87.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. As a group, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TREX has been the topic of several recent research reports. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Trex in a research report on Monday, May 12th. UBS Group decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Citigroup decreased their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Stephens decreased their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.