Quantinno Capital Management LP Purchases 5,096 Shares of Trex Company, Inc. (NYSE:TREX)

Quantinno Capital Management LP raised its position in Trex Company, Inc. (NYSE:TREX) by 18.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,973 shares of the construction company’s stock after purchasing an additional 5,096 shares during the quarter. Quantinno Capital Management LP’s holdings in Trex were worth $2,276,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Trex by 8.8% in the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company’s stock worth $9,961,000 after acquiring an additional 12,085 shares in the last quarter. Park Avenue Securities LLC raised its position in Trex by 26.6% in the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,566 shares during the last quarter. Avanza Fonder AB acquired a new position in Trex in the fourth quarter worth $64,000. UMB Bank n.a. grew its holdings in shares of Trex by 33.4% during the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company’s stock worth $60,000 after purchasing an additional 218 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Trex by 6.8% during the fourth quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company’s stock worth $231,000 after purchasing an additional 213 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president now owns 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 5,286 shares of company stock valued at $323,003 over the last 90 days. 0.71% of the stock is owned by company insiders.

Trex Trading Down 0.3%

NYSE:TREX opened at $60.40 on Wednesday. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $88.84. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.51 and a beta of 1.62. The business’s 50-day moving average price is $57.68 and its two-hundred day moving average price is $65.42.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Bank of America lowered their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. BMO Capital Markets upgraded shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Thursday, April 17th. Truist Financial reduced their price objective on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup lowered their target price on Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.65.

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.