Inceptionr LLC Purchases New Position in Trex Company, Inc. (NYSE:TREX)

Inceptionr LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,387 shares of the construction company's stock, valued at approximately $441,000.

A number of other institutional investors also recently made changes to their positions in TREX. Raymond James Financial Inc. bought a new position in Trex during the fourth quarter valued at about $17,677,000. Arizona State Retirement System boosted its position in shares of Trex by 0.8% during the 4th quarter. Arizona State Retirement System now owns 31,549 shares of the construction company's stock valued at $2,178,000 after purchasing an additional 251 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Trex during the 4th quarter valued at about $2,116,000. M&T Bank Corp grew its stake in shares of Trex by 5.8% in the 4th quarter. M&T Bank Corp now owns 4,290 shares of the construction company's stock worth $296,000 after purchasing an additional 235 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Trex by 5.3% in the 4th quarter. Atria Investments Inc now owns 7,594 shares of the construction company's stock worth $524,000 after purchasing an additional 384 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction on Friday, February 28th. The stock was 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 in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company's stock.

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Trex Trading Up 1.9 %

Trex stock traded up $1.05 during mid-day trading on Wednesday, hitting $55.09. The stock had a trading volume of 1,844,263 shares, compared to its average volume of 1,130,087. The stock has a 50-day simple moving average of $67.08 and a two-hundred day simple moving average of $68.38. The stock has a market capitalization of $5.90 billion, a PE ratio of 25.16, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 12 month low of $52.35 and a 12 month high of $100.77.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TREX shares. Bank of America reduced their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Finally, UBS Group cut their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $78.63.

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.