Sunbelt Securities Inc. Acquires 314 Shares of Trex Company, Inc. (NYSE:TREX)

Sunbelt Securities Inc. boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1,744.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332 shares of the construction company’s stock after acquiring an additional 314 shares during the quarter. Sunbelt Securities Inc.’s holdings in Trex were worth $33,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Redwood Investments LLC bought a new position in shares of Trex in the fourth quarter worth about $2,271,000. Broad Bay Capital Management LP boosted its position in Trex by 3.8% in the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after buying an additional 15,000 shares during the period. Fisher Asset Management LLC grew its stake in Trex by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after acquiring an additional 4,534 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Trex by 9.4% during the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after acquiring an additional 21,486 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Trex by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,152,445 shares of the construction company’s stock valued at $95,415,000 after acquiring an additional 90,025 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

TREX has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. Barclays increased their price target on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Finally, Robert W. Baird decreased their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and a consensus price target of $89.47.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the firm’s 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 transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Trex Stock Down 0.3 %

Shares of Trex stock opened at $74.12 on Monday. The company has a 50 day moving average price of $85.85 and a 200 day moving average price of $87.73. The firm has a market capitalization of $8.06 billion, a P/E ratio of 31.81, a PEG ratio of 1.63 and a beta of 1.56. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, research analysts anticipate that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal 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.