B. Riley Wealth Advisors Inc. Has $428,000 Stock Position in Trex Company, Inc. (NYSE:TREX)

B. Riley Wealth Advisors Inc. cut its holdings in Trex Company, Inc. (NYSE:TREX) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,170 shares of the construction company’s stock after selling 1,988 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Trex were worth $428,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Trex by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,248,650 shares of the construction company’s stock valued at $848,486,000 after acquiring an additional 96,324 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Trex by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares during the last quarter. Cim LLC bought a new stake in shares of Trex during the 4th quarter worth approximately $1,258,000. V Square Quantitative Management LLC acquired a new stake in shares of Trex in the 4th quarter valued at approximately $25,000. Finally, Spouting Rock Asset Management LLC grew its stake in shares of Trex by 12.3% in the fourth quarter. Spouting Rock Asset Management LLC now owns 5,351 shares of the construction company’s stock valued at $443,000 after buying an additional 585 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TREX shares. UBS Group increased their price target on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. JPMorgan Chase & Co. lifted their target price on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, DA Davidson boosted their target price on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.47.

Trex Stock Up 1.2 %

NYSE TREX opened at $78.93 on Tuesday. The firm has a 50-day moving average price of $86.94 and a two-hundred day moving average price of $87.70. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The company has a market capitalization of $8.58 billion, a P/E ratio of 33.88, a P/E/G ratio of 1.84 and a beta of 1.56.

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

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.