Trex Company, Inc. (NYSE:TREX) Shares Acquired by Huntington National Bank

Huntington National Bank increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 227.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 566 shares of the construction company’s stock after acquiring an additional 393 shares during the quarter. Huntington National Bank’s holdings in Trex were worth $39,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after purchasing an additional 3,818,025 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Trex in the 4th quarter valued at about $110,414,000. Norges Bank purchased a new stake in Trex in the 4th quarter valued at about $54,084,000. JPMorgan Chase & Co. increased its stake in shares of Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after acquiring an additional 393,850 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Trex during the 4th quarter worth about $17,677,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of NYSE TREX opened at $53.12 on Tuesday. The business has a 50 day simple moving average of $62.55 and a 200 day simple moving average of $67.53. Trex Company, Inc. has a 52 week low of $50.35 and a 52 week high of $97.69. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.51 and a beta of 1.62.

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

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages recently commented on TREX. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target for the company. 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. Benchmark reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Bank of America decreased their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.

Trex 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.