Oak Ridge Investments LLC cut its holdings in Trex Company, Inc. (NYSE:TREX) by 44.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,919 shares of the construction company’s stock after selling 6,282 shares during the period. Oak Ridge Investments LLC’s holdings in Trex were worth $725,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tompkins Financial Corp bought a new position in Trex in the fourth quarter worth approximately $31,000. Graves Light Private Wealth Management Inc. bought a new stake in shares of Trex during the 4th quarter valued at $33,000. IFP Advisors Inc raised its position in shares of Trex by 361.6% during the 1st quarter. IFP Advisors Inc now owns 457 shares of the construction company’s stock valued at $41,000 after purchasing an additional 358 shares during the period. Montag A & Associates Inc. bought a new stake in shares of Trex during the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp raised its position in shares of Trex by 14.6% during the 1st quarter. Fifth Third Bancorp now owns 808 shares of the construction company’s stock valued at $74,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.
In related news, CEO Bryan Horix Fairbanks sold 4,902 shares of Trex stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $101.41, for a total transaction of $497,111.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay M. Gratz sold 2,140 shares of Trex stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $100.92, for a total transaction of $215,968.80. Following the transaction, the director now directly owns 22,630 shares of the company’s stock, valued at $2,283,819.60. The disclosure for this sale can be found here. Insiders sold a total of 27,004 shares of company stock valued at $2,719,210 over the last three months. Corporate insiders own 0.69% of the company’s stock.
Trex (NYSE:TREX) last issued its quarterly earnings data on Sunday, May 9th. The construction company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Trex had a net margin of 19.63% and a return on equity of 33.59%. The business had revenue of $245.52 million during the quarter, compared to analysts’ expectations of $239.31 million. During the same period last year, the company posted $0.73 EPS. The business’s revenue was up 22.5% on a year-over-year basis. Analysts forecast that Trex Company, Inc. will post 2.02 earnings per share for the current year.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Friday, May 14th. Truist upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $120.00 in a research report on Monday, April 12th. BMO Capital Markets raised their price objective on shares of Trex from $92.00 to $98.00 and gave the company a “market perform” rating in a research report on Tuesday, May 11th. Barclays raised their price objective on shares of Trex from $104.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 11th. Finally, Robert W. Baird raised their price objective on shares of Trex from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, May 11th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $96.72.
Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories primarily for residential decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening systems; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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