GAMMA Investing LLC Buys 965 Shares of Trex Company, Inc. (NYSE:TREX)

GAMMA Investing LLC grew its holdings in Trex Company, Inc. (NYSE:TREX) by 137.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,666 shares of the construction company’s stock after purchasing an additional 965 shares during the quarter. GAMMA Investing LLC’s holdings in Trex were worth $97,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Huntington National Bank lifted its stake in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after acquiring an additional 393 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Trex in the fourth quarter valued at about $122,000. Bessemer Group Inc. lifted its stake in Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after buying an additional 170 shares during the period. Quadrant Capital Group LLC lifted its stake in 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 buying an additional 243 shares during the period. Finally, Summitry LLC acquired a new position in Trex in the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BMO Capital Markets upgraded Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Thursday, April 17th. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Citigroup lowered their price target on Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Stephens lowered their price target on Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Finally, UBS Group decreased their price objective on Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $76.65.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the transaction, the senior vice president owned 24,569 shares in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction 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 completion of the transaction, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Trex Stock Down 0.6%

TREX opened at $58.94 on Monday. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $86.56. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.49 and a beta of 1.50. The business has a 50 day moving average of $57.15 and a 200-day moving average of $61.26.

Trex (NYSE:TREX) last released its quarterly 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 business had revenue of $339.99 million during the quarter, compared to analysts’ expectations of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

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.