Oppenheimer Asset Management Inc. Buys 13,384 Shares of Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. lifted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,713 shares of the construction company's stock after purchasing an additional 13,384 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Trex worth $4,743,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. State Street Corp grew its position in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company's stock worth $211,954,000 after purchasing an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company's stock valued at $135,834,000 after buying an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company's stock worth $124,766,000 after buying an additional 35,039 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Trex in the 4th quarter worth approximately $110,414,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now 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 SEC, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TREX. Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. StockNews.com upgraded Trex from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. UBS Group dropped their price objective on shares of Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Citigroup reduced their target price on shares of Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, DA Davidson restated a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $78.38.

Trex Trading Down 3.6 %

Shares of TREX stock traded down $2.20 during trading hours on Monday, hitting $59.49. 1,354,659 shares of the company's stock were exchanged, compared to its average volume of 1,357,276. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $100.77. The business's 50 day simple moving average is $68.96 and its 200-day simple moving average is $68.76. The company has a market capitalization of $6.37 billion, a PE ratio of 27.16, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million for 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%. Equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

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.