Trex Company, Inc. (NYSE:TREX) Director Sells $87,869.60 in Stock

Trex Company, Inc. (NYSE:TREX) Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Trex Price Performance

TREX stock traded up $1.19 during mid-day trading on Friday, reaching $61.52. 819,591 shares of the company’s stock were exchanged, compared to its average volume of 1,332,260. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $100.77. The stock’s 50 day moving average is $69.13 and its 200 day moving average is $68.64. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

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

Institutional Trading of Trex

Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Trex by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock valued at $317,505,000 after acquiring an additional 523,113 shares during the last quarter. State Street Corp lifted its position in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of Trex by 6.2% during the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock worth $148,631,000 after purchasing an additional 126,441 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TREX shares. Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Tuesday. UBS Group dropped their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. DA Davidson reissued a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday. Finally, Citigroup decreased their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.