Bank of Montreal Can Sells 104,746 Shares of Trex Company, Inc. (NYSE:TREX)

Bank of Montreal Can reduced its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 87.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,416 shares of the construction company's stock after selling 104,746 shares during the quarter. Bank of Montreal Can's holdings in Trex were worth $1,064,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex during the third quarter valued at $30,000. Mather Group LLC. lifted its stake in 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 boosted its holdings in shares of Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares during the last quarter. Huntington National Bank grew its stake in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Trex during the fourth quarter valued at approximately $41,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of Trex stock traded up $1.60 during trading on Wednesday, reaching $56.82. 910,643 shares of the stock traded hands, compared to its average volume of 1,311,539. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $94.00. The business has a fifty day simple moving average of $58.23 and a two-hundred day simple moving average of $66.33.

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

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America cut their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. DA Davidson reiterated a "neutral" rating and set a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. 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. Truist Financial reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $77.18.

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.