Cwm LLC Acquires 2,225 Shares of Trex Company, Inc. (NYSE:TREX)

Cwm LLC raised its position in shares of Trex Company, Inc. (NYSE:TREX) by 250.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,114 shares of the construction company’s stock after buying an additional 2,225 shares during the quarter. Cwm LLC’s holdings in Trex were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TREX. Eagle Asset Management Inc. raised its position in shares of Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after purchasing an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Trex by 16.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after purchasing an additional 124 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Trex by 6.9% during the 4th quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock worth $178,000 after purchasing an additional 138 shares during the period. Martin Capital Advisors LLP grew its stake in shares of Trex by 0.7% during the 4th quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 168 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Trex by 13.2% during the 4th quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock worth $129,000 after purchasing an additional 181 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the sale, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is owned by company insiders.

Trex Stock Performance

Shares of Trex stock opened at $78.01 on Friday. The business has a 50-day simple moving average of $87.17 and a 200-day simple moving average of $87.55. The company has a market cap of $8.48 billion, a PE ratio of 33.48, a P/E/G ratio of 1.84 and a beta of 1.56. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. On average, sell-side analysts predict that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Robert W. Baird lowered their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Barclays lifted their price target on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. DA Davidson lifted their price target on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, Benchmark reiterated a “buy” rating and set a $105.00 price target on shares of Trex in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.47.

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.