UBS Asset Management Americas Inc. lifted its position in Trex Company, Inc. (NYSE:TREX) by 12.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,965 shares of the construction company’s stock after acquiring an additional 20,333 shares during the period. UBS Asset Management Americas Inc. owned 0.16% of Trex worth $15,904,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC purchased a new stake in shares of Trex in the fourth quarter worth $27,000. HM Payson & Co. boosted its position in shares of Trex by 100.0% during the third quarter. HM Payson & Co. now owns 400 shares of the construction company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Tompkins Financial Corp purchased a new position in Trex in the 4th quarter worth about $31,000. Graves Light Private Wealth Management Inc. bought a new stake in shares of Trex in the fourth quarter worth approximately $33,000. Finally, Montag A & Associates Inc. bought a new position in Trex during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.56% of the company’s stock.
Several brokerages recently commented on TREX. DA Davidson lifted their price objective on Trex from $75.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, March 1st. Truist raised Trex from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $120.00 in a research note on Monday. Robert W. Baird boosted their price objective on shares of Trex from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 1st. Barclays increased their price objective on shares of Trex from $99.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 8th. Finally, Truist Securities raised Trex from a “hold” rating to a “buy” rating and upped their target price for the company from $100.00 to $120.00 in a research note on Monday. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Trex currently has an average rating of “Hold” and an average price target of $85.53.
In related news, Director Jay M. Gratz sold 3,692 shares of the company’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $90.13, for a total value of $332,759.96. Following the transaction, the director now directly owns 24,770 shares of the company’s stock, valued at approximately $2,232,520.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James E. Cline sold 12,588 shares of the firm’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $92.13, for a total value of $1,159,732.44. The disclosure for this sale can be found here. Insiders sold a total of 20,280 shares of company stock valued at $1,860,572 over the last quarter. 0.79% of the stock is owned by company insiders.
Shares of Trex stock opened at $101.49 on Wednesday. The company has a market cap of $11.76 billion, a P/E ratio of 70.24 and a beta of 1.46. The firm’s 50 day moving average price is $92.83 and its 200-day moving average price is $85.55. Trex Company, Inc. has a 52-week low of $37.97 and a 52-week high of $107.64.
Trex (NYSE:TREX) last released its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Trex had a return on equity of 35.52% and a net margin of 20.53%. The company had revenue of $228.29 million during the quarter, compared to analysts’ expectations of $215.99 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was up 38.5% compared to the same quarter last year. As a group, equities research analysts expect that Trex Company, Inc. will post 1.54 earnings per share for the current fiscal year.
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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