Farringdon Capital Ltd. Buys New Position in Trex Company, Inc. (NYSE:TREX)

Farringdon Capital Ltd. purchased a new position in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,587 shares of the construction company’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Trex in the 3rd quarter worth approximately $30,000. Mather Group LLC. lifted 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 purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank grew its position in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Trex in the fourth quarter valued at $41,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction dated 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 approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.

Trex Stock Up 4.2 %

Trex stock opened at $55.65 on Friday. The stock has a market cap of $5.97 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00. The company’s fifty day simple moving average is $59.02 and its 200-day simple moving average is $66.60.

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

Analysts Set New Price Targets

TREX has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Truist Financial decreased their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Bank of America decreased their target price 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. Finally, Citigroup cut their price target on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $77.18.

Trex Company 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.