Stifel Financial Corp Cuts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Stifel Financial Corp trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,539 shares of the construction company's stock after selling 24,193 shares during the period. Stifel Financial Corp owned approximately 0.21% of Trex worth $15,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TREX. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex in the third quarter worth approximately $30,000. Mather Group LLC. grew its stake in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC increased its stake in shares of 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 purchasing an additional 473 shares in the last quarter. Huntington National Bank raised 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 valued at $39,000 after purchasing an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Trex during the 4th quarter valued at $41,000. Institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TREX shares. Deutsche Bank Aktiengesellschaft started coverage on Trex in a research report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective on the stock. StockNews.com lowered shares of Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Finally, BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.18.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value 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. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

Trex Stock Up 3.4 %

NYSE TREX traded up $1.95 on Friday, hitting $59.92. 182,311 shares of the stock were exchanged, compared to its average volume of 1,325,673. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00. The company has a 50-day moving average price of $57.22 and a 200-day moving average price of $66.00. The company has a market cap of $6.42 billion, a PE ratio of 27.36, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, equities research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.