B. Riley Wealth Advisors Inc. Purchases New Shares in Trex Company, Inc. (NYSE:TREX)

B. Riley Wealth Advisors Inc. purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,608 shares of the construction company’s stock, valued at approximately $318,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. raised its stake in shares of Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 143 shares during the period. Principal Securities Inc. increased its holdings in Trex by 5.0% during the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after buying an additional 147 shares during the last quarter. Pacer Advisors Inc. raised its position in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 148 shares during the period. Harrington Investments INC boosted its stake in Trex by 1.8% in the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock valued at $629,000 after acquiring an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after acquiring an additional 170 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TREX shares. Jefferies Financial Group lowered their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of Trex in a research report on Monday, May 12th. Barclays decreased their price objective on Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Trex in a research note on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.65.

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares of the company’s stock, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the transaction, the senior vice president now owns 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Trex Trading Down 1.0%

TREX stock opened at $55.87 on Friday. The firm has a 50 day moving average of $57.27 and a 200-day moving average of $64.56. The firm has a market capitalization of $5.99 billion, a P/E ratio of 25.51, a price-to-earnings-growth 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 $87.43.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to analysts’ expectations of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Sell-side analysts predict that Trex Company, Inc. will post 2.04 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.