Swiss National Bank Increases Stake in Trex Company, Inc. (NYSE:TREX)

Swiss National Bank boosted its stake in Trex Company, Inc. (NYSE:TREX) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 213,800 shares of the construction company’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank owned about 0.20% of Trex worth $14,759,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd acquired a new stake in Trex during the fourth quarter worth about $110,414,000. Wasatch Advisors LP increased its position in Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after buying an additional 839,837 shares during the period. Point72 Asset Management L.P. lifted its position in Trex by 100.0% during the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Trex by 462.4% during the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TREX. Truist Financial cut their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Bank of America reduced their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by corporate insiders.

Trex Stock Performance

Shares of Trex stock opened at $59.17 on Thursday. The firm has a market cap of $6.34 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $100.77. The firm’s 50-day simple moving average is $65.70 and its 200-day simple moving average is $68.03.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $160.54 million. On average, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

About Trex

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.