Guggenheim Capital LLC reduced its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,393 shares of the construction company's stock after selling 4,528 shares during the period. Guggenheim Capital LLC's holdings in Trex were worth $579,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex during the 3rd quarter worth $30,000. Mather Group LLC. lifted its holdings in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank boosted its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Trex in the 4th quarter valued at about $41,000. 95.96% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Trex
In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction 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 of the company's stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.
Analyst Upgrades and Downgrades
TREX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. UBS Group decreased their price objective on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Truist Financial reduced their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.18.
Check Out Our Latest Report on Trex
Trex Stock Up 2.0 %
Shares of TREX traded up $1.13 during trading hours on Thursday, reaching $58.95. The company's stock had a trading volume of 199,819 shares, compared to its average volume of 1,324,772. The company has a 50 day moving average of $57.30 and a two-hundred day moving average of $66.05. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $94.00.
Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. As a group, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.
About Trex
(
Free Report)
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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