Trex Company, Inc. (NYSE:TREX) Director Melkeya Mcduffie Sells 1,420 Shares

Trex Company, Inc. (NYSE:TREX) 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 transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Trex Trading Up 2.3 %

Shares of TREX stock opened at $61.71 on Friday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $100.77. The firm’s fifty day moving average price is $69.13 and its two-hundred day moving average price is $68.64. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a PEG ratio of 2.51 and a beta of 1.51.

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

Institutional Investors Weigh In On Trex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. L & S Advisors Inc bought a new position in shares of Trex in the 3rd quarter valued at about $1,000,000. Algert Global LLC grew its position in shares of Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after acquiring an additional 38,700 shares during the period. Curi RMB Capital LLC grew its position in shares of Trex by 27.2% in the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after acquiring an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of Trex by 237.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock valued at $3,534,000 after acquiring an additional 37,362 shares during the period. Finally, Entropy Technologies LP grew its position in shares of Trex by 287.1% in the 3rd quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock valued at $1,119,000 after acquiring an additional 12,468 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday. DA Davidson reiterated a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday. UBS Group cut their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America cut their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $78.38.

About Trex

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.