Raymond James Financial Inc. Invests $17.68 Million in Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Inc. purchased a new stake in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 256,081 shares of the construction company’s stock, valued at approximately $17,677,000. Raymond James Financial Inc. owned 0.24% of Trex as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TREX. Advisory Services Network LLC increased its position in shares of Trex by 18.6% in the fourth quarter. Advisory Services Network LLC now owns 14,120 shares of the construction company’s stock worth $975,000 after acquiring an additional 2,214 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Trex during the 4th quarter worth approximately $2,133,000. Federated Hermes Inc. raised its stake in Trex by 38.5% during the 4th quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company’s stock valued at $86,289,000 after purchasing an additional 347,526 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Trex by 11.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company’s stock valued at $157,000 after purchasing an additional 243 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Trex by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 209,896 shares of the construction company’s stock worth $14,489,000 after buying an additional 111,116 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction 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 transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Trex Stock Up 4.2 %

Shares of Trex stock opened at $55.65 on Monday. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $94.00. The stock has a market capitalization of $5.97 billion, a P/E ratio of 25.41, a PEG ratio of 2.51 and a beta of 1.62. The stock has a 50 day moving average price of $58.75 and a two-hundred day moving average price of $66.50.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

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 research note on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Barclays dropped their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America lowered their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, UBS Group cut their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $77.18.

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.