Tower Research Capital LLC TRC Raises Stake in Trex Company, Inc. (NYSE:TREX)

Tower Research Capital LLC TRC increased its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 121.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,554 shares of the construction company's stock after buying an additional 10,712 shares during the quarter. Tower Research Capital LLC TRC's holdings in Trex were worth $1,350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirova raised its holdings in shares of Trex by 280.4% in the fourth quarter. Mirova now owns 24,687 shares of the construction company's stock valued at $1,704,000 after purchasing an additional 18,198 shares during the last quarter. MML Investors Services LLC grew its position in Trex by 23.3% in the 4th quarter. MML Investors Services LLC now owns 44,920 shares of the construction company's stock worth $3,101,000 after purchasing an additional 8,482 shares in the last quarter. Curi RMB Capital LLC increased its stake in Trex by 1.0% in the 4th quarter. Curi RMB Capital LLC now owns 68,852 shares of the construction company's stock valued at $4,753,000 after buying an additional 703 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Trex during the 4th quarter worth approximately $321,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Trex by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,553 shares of the construction company's stock worth $106,349,000 after buying an additional 36,848 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 0.6 %

Shares of TREX stock traded down $0.37 on Tuesday, reaching $57.08. The company's stock had a trading volume of 154,765 shares, compared to its average volume of 1,318,753. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $94.00. The stock's 50 day simple moving average is $57.49 and its 200-day simple moving average is $66.16. The company has a market capitalization of $6.12 billion, a P/E ratio of 26.05, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly 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 firm 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%. Research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 completion of the sale, the director now directly owns 1,705 shares of the company's stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TREX. Truist Financial dropped their price target on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Barclays lowered their target price on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Benchmark restated a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. DA Davidson reiterated a "neutral" rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Finally, UBS Group decreased their price target on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.18.

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.