OFI Invest Asset Management Purchases Shares of 10,500 Trex Company, Inc. (NYSE:TREX)

OFI Invest Asset Management purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,500 shares of the construction company's stock, valued at approximately $700,000.

A number of other large investors also recently bought and sold shares of the business. Principal Securities Inc. raised its holdings in Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after buying an additional 147 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after acquiring an additional 148 shares during the period. CIBC Asset Management Inc grew its position in Trex by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock valued at $230,000 after buying an additional 175 shares during the period. First Horizon Advisors Inc. grew its position in Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after buying an additional 184 shares during the period. Finally, Mather Group LLC. grew its position in Trex by 73.5% during 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. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

TREX stock traded down $1.03 during mid-day trading on Thursday, reaching $53.99. 2,557,898 shares of the stock traded hands, compared to its average volume of 1,138,017. Trex Company, Inc. has a one year low of $52.75 and a one year high of $100.77. The stock has a market capitalization of $5.79 billion, a PE ratio of 24.65, a PEG ratio of 2.51 and a beta of 1.60. The business has a 50-day moving average price of $66.80 and a two-hundred day moving average price of $68.29.

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

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company'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 in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

TREX has been the topic of several analyst reports. StockNews.com downgraded shares of Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Citigroup lowered their target price on shares of Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.