OFI Invest Asset Management Acquires Shares of 10,500 Trex Company, Inc. (NYSE:TREX)

OFI Invest Asset Management purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,500 shares of the construction company’s stock, valued at approximately $700,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi increased its holdings in shares of Trex by 12.9% during the fourth quarter. Amundi now owns 259,112 shares of the construction company’s stock valued at $17,137,000 after acquiring an additional 29,604 shares in the last quarter. Callan Family Office LLC bought a new stake in Trex in the 4th quarter worth about $265,000. Inceptionr LLC bought a new stake in Trex in the 4th quarter worth about $441,000. Raymond James Financial Inc. bought a new stake in Trex in the 4th quarter worth about $17,677,000. Finally, Arizona State Retirement System increased its holdings in Trex by 0.8% in the 4th quarter. Arizona State Retirement System now owns 31,549 shares of the construction company’s stock worth $2,178,000 after buying an additional 251 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the subject of several research analyst reports. Truist Financial reduced their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. 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. UBS Group cut their price target on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group cut their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.63.

Trex Trading Down 2.2 %

NYSE TREX opened at $56.26 on Monday. The stock’s 50 day moving average is $67.68 and its 200 day moving average is $68.55. Trex Company, Inc. has a 12 month low of $54.70 and a 12 month high of $100.77. The stock has a market cap of $6.03 billion, a PE ratio of 25.69, a P/E/G ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. On average, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 sale, the director now owns 1,705 shares of the company’s stock, valued at $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 available through the SEC website. 0.71% of the stock is owned by insiders.

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.