Dubuque Bank & Trust Co. purchased a new position in Trex Company Inc (NYSE:TREX) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,294 shares of the construction company’s stock, valued at approximately $357,000.
Several other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Trex by 352.7% in the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after purchasing an additional 1,118 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Trex in the third quarter worth approximately $202,000. Everence Capital Management Inc. bought a new position in shares of Trex in the third quarter worth approximately $212,000. Teacher Retirement System of Texas bought a new position in shares of Trex in the third quarter worth approximately $219,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Trex by 27.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock worth $228,000 after purchasing an additional 553 shares during the last quarter. 88.72% of the stock is currently owned by hedge funds and other institutional investors.
Trex Company Inc (NYSE:TREX) opened at $108.57 on Friday. Trex Company Inc has a 52-week low of $61.57 and a 52-week high of $120.40. The company has a market cap of $3,322.66, a P/E ratio of 35.83 and a beta of 2.31.
In other news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay M. Gratz sold 1,058 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $116.95, for a total transaction of $123,733.10. Following the completion of the transaction, the director now owns 8,801 shares in the company, valued at approximately $1,029,276.95. The disclosure for this sale can be found here. Insiders have sold 6,956 shares of company stock worth $767,076 over the last quarter. Company insiders own 0.95% of the company’s stock.
Several research analysts recently weighed in on TREX shares. Zacks Investment Research upgraded shares of Trex from a “sell” rating to a “buy” rating and set a $123.00 price objective on the stock in a research report on Thursday, November 2nd. B. Riley upgraded shares of Trex from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $96.00 to $125.00 in a research report on Wednesday, January 3rd. Stifel Nicolaus decreased their price objective on shares of Trex from $100.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, December 8th. SunTrust Banks reiterated a “hold” rating and set a $95.00 price target on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co increased their price target on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.00.
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Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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