Connable Office Inc. Purchases Shares of 3,934 Trex Company, Inc. (NYSE:TREX)

Connable Office Inc. acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,934 shares of the construction company’s stock, valued at approximately $272,000.

Several other hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC increased its holdings in shares of Trex by 83.2% during the fourth quarter. Fisher Asset Management LLC now owns 218,519 shares of the construction company’s stock valued at $15,084,000 after acquiring an additional 99,223 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Trex during the fourth quarter valued at about $3,738,000. Peloton Wealth Strategists increased its holdings in shares of Trex by 1.9% during the fourth quarter. Peloton Wealth Strategists now owns 39,105 shares of the construction company’s stock valued at $2,699,000 after acquiring an additional 725 shares in the last quarter. Versor Investments LP acquired a new position in shares of Trex during the fourth quarter valued at about $343,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Trex during the fourth quarter valued at about $2,116,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TREX. UBS Group cut 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. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group dropped their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price objective on shares of Trex in a research note on Tuesday. Finally, Truist Financial dropped their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $78.38.

Trex Price Performance

Shares of NYSE:TREX opened at $61.71 on Friday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $100.77. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business’s 50 day moving average price is $69.13 and its 200-day moving average price is $68.64.

Trex (NYSE:TREX) last announced 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 company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current 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.