Millstone Evans Group LLC Purchases Shares of 7,500 Trex Company, Inc. (NYSE:TREX)

Millstone Evans Group LLC purchased a new stake in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,500 shares of the construction company’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its stake in Trex by 37.0% in the fourth quarter. TD Private Client Wealth LLC now owns 3,936 shares of the construction company’s stock valued at $272,000 after buying an additional 1,063 shares during the last quarter. First National Bank of Hutchinson increased its holdings in shares of Trex by 16.2% in the fourth quarter. First National Bank of Hutchinson now owns 14,429 shares of the construction company’s stock valued at $996,000 after purchasing an additional 2,016 shares during the period. Trillium Asset Management LLC increased its holdings in shares of Trex by 28.5% in the fourth quarter. Trillium Asset Management LLC now owns 207,468 shares of the construction company’s stock valued at $14,322,000 after purchasing an additional 46,043 shares during the period. Xponance Inc. increased its holdings in shares of Trex by 0.7% in the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 143 shares during the period. Finally, Polen Capital Management LLC increased its holdings in shares of Trex by 984.4% in the fourth quarter. Polen Capital Management LLC now owns 56,268 shares of the construction company’s stock valued at $3,884,000 after purchasing an additional 51,079 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TREX shares. Citigroup cut 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. UBS Group cut their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group cut 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. Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Finally, StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.63.

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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.71% of the company’s stock.

Trex Trading Down 0.4 %

Shares of TREX opened at $59.54 on Friday. Trex Company, Inc. has a 12 month low of $52.75 and a 12 month high of $100.77. The stock’s 50 day moving average is $65.48 and its two-hundred day moving average is $67.95. The firm has a market cap of $6.38 billion, a P/E ratio of 27.19, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $160.54 million. Equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Trex Company 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.