Bank of New York Mellon Corp Sells 13,377 Shares of Trex Company, Inc. (NYSE:TREX)

Bank of New York Mellon Corp cut its holdings in Trex Company, Inc. (NYSE:TREX) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 779,563 shares of the construction company’s stock after selling 13,377 shares during the period. Bank of New York Mellon Corp’s holdings in Trex were worth $53,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the third quarter worth $30,000. Mather Group LLC. boosted its position in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Trex during the fourth quarter worth $41,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TREX shares. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.63.

Trex Trading Up 1.0 %

Shares of TREX stock opened at $58.78 on Thursday. Trex Company, Inc. has a 1 year low of $56.31 and a 1 year high of $100.77. The firm’s fifty day moving average price is $68.47 and its two-hundred day moving average price is $68.70. The firm has a market capitalization of $6.30 billion, a P/E ratio of 26.84, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

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.