Bank of New York Mellon Corp Has $53.81 Million Position in Trex Company, Inc. (NYSE:TREX)

Bank of New York Mellon Corp trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 779,563 shares of the construction company's stock after selling 13,377 shares during the period. Bank of New York Mellon Corp owned 0.73% of Trex worth $53,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Trex in the third quarter valued at approximately $30,000. Mather Group LLC. boosted its holdings in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Trex in the fourth quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after buying an additional 202 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

NYSE:TREX traded down $1.24 during mid-day trading on Friday, reaching $56.26. 2,404,445 shares of the company's stock were exchanged, compared to its average volume of 1,114,593. Trex Company, Inc. has a one year low of $54.70 and a one year high of $100.77. The firm has a market capitalization of $6.03 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The business's fifty day simple moving average is $67.68 and its two-hundred day simple moving average is $68.50.

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Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business 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 year.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday. UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a report on Wednesday. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.63.

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.