Melkeya Mcduffie Sells 1,420 Shares of Trex Company, Inc. (NYSE:TREX) Stock

Trex Company, Inc. (NYSE:TREX) Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now owns 1,705 shares of the company’s stock, valued at $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 this link.

Trex Price Performance

Shares of Trex stock 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 company has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. The business has a 50 day moving average price of $68.96 and a 200 day moving average price of $68.65.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Institutional Trading of Trex

Hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Trex during the 4th quarter valued at $318,000. Putney Financial Group LLC purchased a new stake in shares of Trex during the 4th quarter valued at $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trex by 3.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock valued at $25,816,000 after buying an additional 11,845 shares during the period. Woodline Partners LP grew its stake in shares of Trex by 65.8% during the 4th quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock valued at $21,571,000 after buying an additional 124,070 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of Trex by 2.2% during the 4th quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock valued at $3,251,000 after buying an additional 996 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial decreased their target price 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. Jefferies Financial Group lowered their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Citigroup lowered their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. DA Davidson reaffirmed a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Finally, StockNews.com raised Trex from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.38.

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.