Trex Company, Inc. $TREX Shares Newly Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 156,343 shares of the construction company’s stock, valued at approximately $6,810,000.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC lifted its stake in Trex by 95.1% during the 3rd quarter. AlphaCore Capital LLC now owns 8,732 shares of the construction company’s stock valued at $380,000 after acquiring an additional 4,257 shares during the period. Parallel Advisors LLC raised its holdings in shares of Trex by 10.3% during the third quarter. Parallel Advisors LLC now owns 4,103 shares of the construction company’s stock valued at $179,000 after purchasing an additional 382 shares during the last quarter. Platform Technology Partners purchased a new position in shares of Trex during the third quarter valued at approximately $209,000. Chicago Partners Investment Group LLC raised its holdings in shares of Trex by 1.1% during the third quarter. Chicago Partners Investment Group LLC now owns 21,868 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 247 shares during the last quarter. Finally, Associated Banc Corp bought a new position in Trex during the third quarter valued at approximately $217,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,231 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $57.87, for a total value of $71,237.97. Following the completion of the transaction, the senior vice president directly owned 66,563 shares in the company, valued at $3,852,000.81. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jacob Rudolph sold 1,969 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $59.07, for a total transaction of $116,308.83. Following the completion of the sale, the senior vice president directly owned 37,462 shares of the company’s stock, valued at approximately $2,212,880.34. This trade represents a 4.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,700 shares of company stock valued at $215,467 over the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Trex Stock Down 2.8%

NYSE TREX opened at $52.75 on Friday. The stock’s 50-day moving average price is $47.15 and its 200-day moving average price is $43.67. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $60.21. The company has a market capitalization of $5.27 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.46.

Trex (NYSE:TREX) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $314.86 million. Trex had a return on equity of 18.27% and a net margin of 13.89%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Research analysts anticipate that Trex Company, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TREX. Truist Financial raised their target price on shares of Trex from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Citigroup boosted their target price on shares of Trex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. Zacks Research cut Trex from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Bank of America upgraded Trex from an “underperform” rating to a “buy” rating and raised their price target for the stock from $46.00 to $65.00 in a research note on Thursday, November 5th. Finally, Melius Research started coverage on Trex in a report on Tuesday, October 6th. They issued a “buy” rating and a $62.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.18.

Trex Company Profile

Trex Company, Inc. manufactures wood-alternative decking, railing and other outdoor-living products. Its composite decking is made primarily from reclaimed wood and recycled plastic, offering an alternative to traditional wood materials. The company’s products include composite deck boards and railing systems, along with accessories such as outdoor lighting and drainage products. Trex sells through a network of distributors, dealers and retailers, serving customers primarily in North America as well as international markets.