CIBC Private Wealth Group LLC Grows Position in Trex Company, Inc. (NYSE:TREX)

CIBC Private Wealth Group LLC boosted its stake in Trex Company, Inc. (NYSE:TREXFree Report) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,384 shares of the construction company’s stock after buying an additional 2,087 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Trex were worth $2,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TREX. Norges Bank purchased a new stake in shares of Trex during the 4th quarter valued at $113,613,000. TD Asset Management Inc increased its position in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after purchasing an additional 1,341,419 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Trex by 19.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after purchasing an additional 660,536 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Trex by 97.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,239,723 shares of the construction company’s stock valued at $76,404,000 after purchasing an additional 612,832 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Trex by 910.6% during the 3rd quarter. Fred Alger Management LLC now owns 447,159 shares of the construction company’s stock valued at $27,558,000 after purchasing an additional 402,913 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TREX shares. Stifel Nicolaus raised their target price on Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. UBS Group lifted their price objective on Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Truist Financial lifted their price objective on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Robert W. Baird decreased their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.47.

Check Out Our Latest Analysis on Trex

Trex Price Performance

Shares of Trex stock opened at $80.13 on Friday. The business’s 50 day simple moving average is $89.48 and its two-hundred day simple moving average is $86.48. The stock has a market capitalization of $8.71 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 1.79 and a beta of 1.56. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

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

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Trex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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