First Commonwealth Financial Corp PA Takes $299,000 Position in Trex Company, Inc. (NYSE:TREX)

First Commonwealth Financial Corp PA bought a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,000 shares of the construction company’s stock, valued at approximately $299,000.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Trex during the fourth quarter valued at approximately $25,000. Mather Group LLC. bought a new stake in Trex during the first quarter valued at approximately $26,000. Sunbelt Securities Inc. lifted its position in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. Rise Advisors LLC lifted its position in Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in Trex during the fourth quarter valued at approximately $47,000. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Up 5.1 %

Shares of TREX stock traded up $4.02 during mid-day trading on Friday, reaching $82.50. 982,486 shares of the company’s stock traded hands, compared to its average volume of 853,530. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a market cap of $8.97 billion, a P/E ratio of 35.52, a P/E/G ratio of 1.68 and a beta of 1.50. The company’s 50-day moving average price is $80.97 and its 200-day moving average price is $87.12.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $367.31 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 56.5% on a year-over-year basis. Equities analysts predict that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TREX shares. Barclays dropped their target price on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Loop Capital decreased their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird decreased their price target on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. DA Davidson decreased their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group decreased their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.76.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total value of $1,494,396.00. Following the transaction, the senior vice president now owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by company insiders.

Trex Company Profile

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.