Commerce Bank Invests $273,000 in Trex Company, Inc. (NYSE:TREX)

Commerce Bank bought a new position in Trex Company, Inc. (NYSE:TREXFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,295 shares of the construction company’s stock, valued at approximately $273,000.

A number of other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Trex by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after purchasing an additional 124 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Trex by 6.9% in the 4th quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock worth $178,000 after purchasing an additional 138 shares in the last quarter. Shell Asset Management Co. boosted its stake in Trex by 0.5% in the 3rd quarter. Shell Asset Management Co. now owns 35,605 shares of the construction company’s stock worth $2,194,000 after purchasing an additional 163 shares in the last quarter. Martin Capital Advisors LLP boosted its stake in Trex by 0.7% in the 4th quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 168 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Trex by 13.2% in the 4th quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock worth $129,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.6 %

Trex stock opened at $86.48 on Friday. The firm has a 50 day moving average of $91.19 and a 200 day moving average of $85.93. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 37.12, a P/E/G ratio of 1.91 and a beta of 1.60. Trex Company, Inc. has a 12-month low of $51.03 and a 12-month high of $101.91.

Trex (NYSE:TREXGet Free Report) last released its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. The company had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts predict that Trex Company, Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling at Trex

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TREX shares. Truist Financial upped their target price on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Robert W. Baird lowered their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. DA Davidson upped their target price on shares of Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. upped their target price on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus upped their target price on shares of Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.47.

View Our Latest Research Report on Trex

About Trex

(Free Report)

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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