Raymond James Financial Inc. Acquires Shares of 256,081 Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Inc. bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 256,081 shares of the construction company's stock, valued at approximately $17,677,000. Raymond James Financial Inc. owned about 0.24% of Trex at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex in the 3rd quarter worth $30,000. Mather Group LLC. increased its holdings in Trex by 73.5% in 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 position in Trex by 1,212.8% in 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 during the last quarter. Eagle Bay Advisors LLC bought a new position in Trex during the 4th quarter valued at about $41,000. Finally, V Square Quantitative Management LLC grew its stake 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 worth $43,000 after acquiring an additional 202 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $87,869.60. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company's stock.

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Trex Stock Down 0.4 %

NYSE:TREX traded down $0.21 on Friday, reaching $59.54. 2,478,024 shares of the company's stock traded hands, compared to its average volume of 1,171,728. The firm has a market cap of $6.38 billion, a PE ratio of 27.19, a P/E/G ratio of 2.51 and a beta of 1.60. The stock has a 50-day simple moving average of $65.58 and a 200-day simple moving average of $67.98. Trex Company, Inc. has a 12 month low of $52.75 and a 12 month high of $100.77.

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

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. UBS Group dropped their price target on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a research report on Monday, March 3rd. Citigroup dropped their target price on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, 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 research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.