HAP Trading LLC acquired a new position in shares of Trex Company Inc (NYSE:TREX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,992 shares of the construction company’s stock, valued at approximately $1,300,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TREX. USA Mutuals Advisors Inc. purchased a new stake in Trex during the fourth quarter worth approximately $104,000. Bessemer Group Inc. grew its stake in Trex by 352.7% during the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after buying an additional 1,118 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Trex during the third quarter worth approximately $202,000. 1st Global Advisors Inc. purchased a new stake in Trex during the second quarter worth approximately $204,000. Finally, Everence Capital Management Inc. purchased a new stake in Trex during the third quarter worth approximately $212,000. Institutional investors own 90.58% of the company’s stock.
Several research firms have issued reports on TREX. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Thursday, January 11th. B. Riley upgraded shares of Trex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $96.00 to $125.00 in a research note 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 for the company in a research note on Friday, December 8th. SunTrust Banks reiterated a “hold” rating and set a $95.00 price objective on shares of Trex in a research note on Wednesday, November 1st. Finally, FBR & Co boosted their price objective on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $99.00.
Trex Company Inc (NYSE TREX) opened at $112.61 on Monday. The firm has a market cap of $3,313.54, a price-to-earnings ratio of 37.17 and a beta of 2.31. Trex Company Inc has a 52 week low of $61.57 and a 52 week high of $120.40.
In other news, Director Jay M. Gratz sold 1,418 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $111.05, for a total value of $157,468.90. Following the completion of the transaction, the director now directly owns 8,901 shares in the company, valued at $988,456.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay M. Gratz sold 1,058 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were 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 of the company’s stock, valued at $1,029,276.95. The disclosure for this sale can be found here. Insiders sold 4,798 shares of company stock valued at $539,385 over the last 90 days. Insiders own 0.95% of the company’s stock.
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Trex Company Profile
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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