Comerica Bank Has $14.47 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Comerica Bank reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 0.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 209,641 shares of the construction company’s stock after selling 850 shares during the quarter. Comerica Bank’s holdings in Trex were worth $14,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Trex during the 3rd quarter valued at about $30,000. Mather Group LLC. boosted its stake in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares during the period. Huntington National Bank raised its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after acquiring an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Trex in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the topic of several analyst reports. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a research report on Monday, March 3rd. Citigroup decreased their price objective on shares of Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Barclays cut their target price on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.18.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s 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 directly 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 legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Trex Price Performance

Trex stock opened at $58.02 on Friday. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00. The firm has a market capitalization of $6.22 billion, a PE ratio of 26.49, a P/E/G ratio of 2.51 and a beta of 1.62. The company’s 50-day moving average is $57.22 and its 200-day moving average is $66.00.

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 firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. As a group, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

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.