Bank of New York Mellon Corp Has $52.99 Million Stock Position in Trex Company Inc (NYSE:TREX)

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Bank of New York Mellon Corp reduced its position in Trex Company Inc (NYSE:TREX) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 661,153 shares of the construction company’s stock after selling 29,598 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of Trex worth $52,986,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TREX. Parallel Advisors LLC boosted its stake in shares of Trex by 56.5% in the 1st quarter. Parallel Advisors LLC now owns 313 shares of the construction company’s stock valued at $25,000 after purchasing an additional 113 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Trex in the 1st quarter valued at $31,000. Pearl River Capital LLC bought a new stake in shares of Trex in the 1st quarter valued at $40,000. TRUE Private Wealth Advisors bought a new stake in shares of Trex in the 4th quarter valued at $53,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Trex by 92.2% in the 1st quarter. Global Retirement Partners LLC now owns 711 shares of the construction company’s stock valued at $57,000 after purchasing an additional 341 shares during the last quarter.

In other Trex news, CEO James E. Cline sold 12,100 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $101.02, for a total transaction of $1,222,342.00. Following the transaction, the chief executive officer now directly owns 72,422 shares of the company’s stock, valued at approximately $7,316,070.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Dante Zambanini sold 3,395 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.42, for a total transaction of $327,345.90. Following the transaction, the insider now directly owns 89,620 shares in the company, valued at $8,641,160.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,319 shares of company stock worth $2,322,218. Insiders own 0.79% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Berenberg Bank reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Trex in a research note on Wednesday, February 5th. B. Riley upped their price objective on shares of Trex from $92.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. ValuEngine lowered shares of Trex from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 1st. Deutsche Bank increased their target price on shares of Trex from $79.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Stephens reiterated a “hold” rating and issued a $100.00 target price on shares of Trex in a report on Wednesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $96.91.

Shares of NYSE TREX opened at $124.81 on Friday. The company has a quick ratio of 2.25, a current ratio of 2.75 and a debt-to-equity ratio of 0.07. Trex Company Inc has a 52 week low of $56.22 and a 52 week high of $125.96. The firm’s fifty day moving average is $93.26 and its 200 day moving average is $91.87. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 46.75 and a beta of 1.65.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, May 4th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. The business had revenue of $200.40 million for the quarter, compared to the consensus estimate of $196.40 million. Trex had a net margin of 20.31% and a return on equity of 36.67%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS. Equities research analysts anticipate that Trex Company Inc will post 2.52 earnings per share for the current year.

Trex Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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