Bank of Montreal Can Sells 104,746 Shares of Trex Company, Inc. (NYSE:TREX)

Bank of Montreal Can trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX) by 87.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,416 shares of the construction company’s stock after selling 104,746 shares during the quarter. Bank of Montreal Can’s holdings in Trex were worth $1,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its stake in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Trex in the fourth quarter valued at approximately $110,414,000. Norges Bank acquired a new stake in Trex during the 4th quarter worth approximately $54,084,000. JPMorgan Chase & Co. boosted its stake in Trex by 97.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after purchasing an additional 393,850 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Trex by 38.5% in the 4th quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company’s stock valued at $86,289,000 after purchasing an additional 347,526 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TREX. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 target price for the company. Jefferies Financial Group cut their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Citigroup decreased their target price on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, DA Davidson reissued a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $77.18.

Trex Stock Up 4.2 %

NYSE TREX opened at $55.65 on Friday. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $94.00. The business’s fifty day moving average is $59.02 and its 200 day moving average is $66.60. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. On average, research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.