HighTower Advisors LLC Buys 1,796 Shares of Trex Company, Inc. (NYSE:TREX)

HighTower Advisors LLC lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,209 shares of the construction company’s stock after acquiring an additional 1,796 shares during the quarter. HighTower Advisors LLC’s holdings in Trex were worth $1,050,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TREX. Wilmington Savings Fund Society FSB bought a new stake in Trex during the third quarter worth approximately $30,000. Mather Group LLC. boosted its holdings in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC grew its stake in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Trex in the 4th quarter worth $41,000. Finally, V Square Quantitative Management LLC lifted its position in Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TREX. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Citigroup reduced their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.63.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by company insiders.

Trex Price Performance

NYSE TREX opened at $61.11 on Thursday. The stock’s 50 day simple moving average is $65.07 and its 200 day simple moving average is $68.00. Trex Company, Inc. has a one year low of $52.75 and a one year high of $100.33. The firm has a market cap of $6.55 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

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

About Trex

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.