Raymond James Financial Inc. Purchases New Shares in Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Inc. acquired a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 256,081 shares of the construction company's stock, valued at approximately $17,677,000. Raymond James Financial Inc. owned approximately 0.24% of Trex as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Trex during the third quarter valued at approximately $30,000. Mather Group LLC. raised its holdings in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC raised 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 worth $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank lifted its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in Trex in the fourth quarter valued at about $41,000. 95.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

TREX has been the subject of a number of research reports. DA Davidson reissued a "neutral" rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Truist Financial dropped their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Bank of America decreased their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Jefferies Financial Group dropped their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $77.18.

Trex Trading Up 2.7 %

TREX stock traded up $1.48 during mid-day trading on Wednesday, reaching $56.70. The company's stock had a trading volume of 1,531,329 shares, compared to its average volume of 1,313,719. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00. The business's 50 day moving average price is $58.23 and its 200 day moving average price is $66.33. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released 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 company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.