NBC Securities Inc. Buys 12,207 Shares of Trex Company, Inc. (NYSE:TREX)

NBC Securities Inc. grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 122,070.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,217 shares of the construction company’s stock after acquiring an additional 12,207 shares during the quarter. NBC Securities Inc.’s holdings in Trex were worth $709,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Alliancebernstein L.P. increased its holdings in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after buying an additional 3,818,025 shares in the last quarter. Wasatch Advisors LP increased its holdings in Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock worth $317,505,000 after buying an additional 523,113 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after buying an additional 2,578,734 shares in the last quarter. Bamco Inc. NY increased its holdings in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock worth $148,631,000 after buying an additional 126,441 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Trex by 86.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock worth $140,064,000 after buying an additional 939,960 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Up 2.1%

Shares of TREX opened at $56.62 on Thursday. The business’s 50 day moving average is $57.02 and its 200 day moving average is $64.30. The company has a market capitalization of $6.07 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $87.43.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. Equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the sale, the senior vice president now owns 27,527 shares of the company’s stock, valued at $1,659,052.29. The trade was a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president now directly owns 24,569 shares in the company, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TREX. Citigroup dropped their target price on Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. UBS Group dropped their target price on Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group dropped their target price on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Finally, DA Davidson reissued a “neutral” rating and issued a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.65.

Trex 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.