Raymond James Financial Inc. Purchases New Shares in Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Inc. purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & 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 approximately 0.24% of Trex at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Trex in the third quarter worth about $30,000. Mather Group LLC. grew its stake in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its stake in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Trex during the fourth quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC lifted its position in Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after purchasing an additional 202 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Activity

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 value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TREX. UBS Group lowered their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group lowered their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Bank of America lowered their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.63.

Trex Trading Up 1.5 %

TREX opened at $57.71 on Tuesday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.51 and a beta of 1.60. The company’s 50 day moving average is $66.01 and its 200 day moving average is $68.14. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.77.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. As a group, analysts predict that Trex Company, Inc. will post 2.04 EPS 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.