Trex Company, Inc. (NYSE:TREX) Stake Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 13,708.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,795 shares of the construction company's stock after buying an additional 96,094 shares during the period. GAMMA Investing LLC owned about 0.09% of Trex worth $5,624,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR increased its position in shares of Trex by 10.6% in the fourth quarter. Stephens Inc. AR now owns 6,294 shares of the construction company's stock valued at $434,000 after acquiring an additional 601 shares during the last quarter. Equitable Trust Co. bought a new position in Trex during the fourth quarter worth about $261,000. Values First Advisors Inc. increased its position in Trex by 5.7% during the fourth quarter. Values First Advisors Inc. now owns 7,951 shares of the construction company's stock worth $549,000 after buying an additional 429 shares during the last quarter. Van ECK Associates Corp increased its position in Trex by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 110,697 shares of the construction company's stock worth $7,641,000 after buying an additional 28,971 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after buying an additional 202 shares during the period. Institutional investors own 95.96% of the company's stock.

Trex Stock Performance

NYSE:TREX traded down $1.50 during midday trading on Wednesday, reaching $56.66. 1,583,683 shares of the stock traded hands, compared to its average volume of 1,393,174. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $87.43. The stock has a market capitalization of $6.08 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 2.51 and a beta of 1.52. The business has a 50-day moving average of $56.95 and a two-hundred day moving average of $63.92.

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 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 business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company's revenue was down 9.0% compared to the same quarter last year. Research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

TREX has been the subject of several research analyst reports. Barclays reduced their target price on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Truist Financial cut their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price 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. Two investment 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. Based on data from MarketBeat, Trex currently has a consensus rating of "Hold" and a consensus target price of $76.65.

Insider Activity

In other news, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of 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 represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction dated 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 of the company's stock, 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. Corporate insiders own 0.71% of the company's stock.

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.