Cetera Investment Advisers Raises Position in Trex Company, Inc. (NYSE:TREX)

Cetera Investment Advisers increased its holdings in Trex Company, Inc. (NYSE:TREX) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,029 shares of the construction company’s stock after purchasing an additional 2,239 shares during the quarter. Cetera Investment Advisers’ holdings in Trex were worth $1,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Xponance Inc. grew its holdings in Trex by 0.7% in the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 143 shares during the last quarter. Principal Securities Inc. grew its holdings in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after acquiring an additional 147 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 148 shares during the last quarter. Harrington Investments INC grew its holdings in Trex by 1.8% in the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after acquiring an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock worth $140,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX stock opened at $57.15 on Friday. The company has a market capitalization of $6.13 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.51 and a beta of 1.62. The company’s 50-day simple moving average is $57.67 and its two-hundred day simple moving average is $65.27. Trex Company, Inc. has a one year low of $49.01 and a one year high of $88.84.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target on the stock. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. BMO Capital Markets raised shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Barclays lowered their price target on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.65.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The shares were 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 in the company, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president now directly owns 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock valued at $323,003 over the last 90 days. Insiders own 0.71% of the company’s stock.

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.