Summitry LLC Buys Shares of 3,197 Trex Company, Inc. (NYSE:TREX)

Summitry LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,197 shares of the construction company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Trex by 97.6% during the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after purchasing an additional 393,850 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of Trex during the 4th quarter worth approximately $247,000. Charles Schwab Investment Management Inc. raised its position in shares of Trex by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company’s stock valued at $60,060,000 after buying an additional 27,992 shares during the period. SG Americas Securities LLC lifted its holdings in Trex by 298.5% in the fourth quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company’s stock valued at $424,000 after acquiring an additional 4,597 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after acquiring an additional 511,163 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Bank of America reduced their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Trex Trading Up 0.1 %

Trex stock opened at $62.05 on Wednesday. The company has a fifty day simple moving average of $65.27 and a 200-day simple moving average of $68.05. The stock has a market cap of $6.65 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.61.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share 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.