LPL Financial LLC Acquires 28,176 Shares of Trex Company, Inc. (NYSE:TREX)

LPL Financial LLC grew its holdings in Trex Company, Inc. (NYSE:TREX) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,457 shares of the construction company’s stock after buying an additional 28,176 shares during the quarter. LPL Financial LLC owned 0.12% of Trex worth $8,798,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TREX. FMR LLC raised its position in Trex by 6.0% in the third quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock worth $84,085,000 after purchasing an additional 71,761 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Trex in the 3rd quarter valued at approximately $206,000. Benjamin Edwards Inc. acquired a new position in shares of Trex in the 3rd quarter worth approximately $734,000. Hilltop Holdings Inc. boosted its stake in Trex by 16.0% in the 3rd quarter. Hilltop Holdings Inc. now owns 5,909 shares of the construction company’s stock valued at $393,000 after buying an additional 813 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Trex by 18.3% in the third quarter. HighTower Advisors LLC now owns 13,413 shares of the construction company’s stock valued at $892,000 after acquiring an additional 2,072 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Trading Down 0.8 %

Trex stock opened at $54.96 on Friday. Trex Company, Inc. has a 1 year low of $50.35 and a 1 year high of $97.69. The company’s 50-day moving average is $62.97 and its two-hundred day moving average is $67.66. The company has a market cap of $5.89 billion, a PE ratio of 25.10, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last announced its quarterly earnings data 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. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent analyst reports. DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday. They set a “buy” rating and a $85.00 price target for the company. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Bank of America decreased 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.00.

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.