First Trust Advisors LP Acquires New Stake in Trex Company, Inc. (NYSE:TREX)

First Trust Advisors LP purchased a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,656 shares of the construction company's stock, valued at approximately $321,000.

A number of other institutional investors have also recently added to or reduced their stakes in TREX. Barclays PLC boosted its position in Trex by 8.8% during the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company's stock worth $9,961,000 after purchasing an additional 12,085 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the 3rd quarter worth $30,000. GAMMA Investing LLC boosted its position in Trex by 274.9% during the 4th quarter. GAMMA Investing LLC now owns 701 shares of the construction company's stock worth $48,000 after purchasing an additional 514 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Trex during the 4th quarter worth $41,000. Finally, Claro Advisors LLC purchased a new position in Trex in the 4th quarter valued at about $220,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm'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 value of $144,728.22. Following the sale, the senior vice president now owns 24,569 shares in the company, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the firm's 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 completion of the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Trex Trading Up 6.9%

NYSE TREX traded up $3.99 during trading hours on Monday, reaching $61.75. The company's stock had a trading volume of 1,725,578 shares, compared to its average volume of 1,346,139. The business has a 50-day simple moving average of $57.02 and a 200 day simple moving average of $65.78. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $92.02. The stock has a market cap of $6.62 billion, a PE ratio of 28.20, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued 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 analysts' expectations of $329.11 million. During the same quarter last year, the company posted $0.82 earnings per share. Trex'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 EPS for the current year.

Analyst Upgrades and Downgrades

TREX has been the subject of several recent analyst reports. Citigroup lowered their target price on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price for the company. Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $80.00 target price on shares of Trex in a research note on Monday. Finally, Truist Financial lowered 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $76.65.

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.