CIBC Private Wealth Group LLC Has $2.08 Million Stake in Trex Company, Inc. (NYSE:TREX)

CIBC Private Wealth Group LLC lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,521 shares of the construction company’s stock after selling 322 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Trex were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its position in Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after buying an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Trex by 0.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after purchasing an additional 17,405 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trex by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares during the period. AustralianSuper Pty Ltd acquired a new position in Trex in the fourth quarter valued at about $110,414,000. Finally, FMR LLC lifted its position in Trex by 6.0% during the third quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock worth $84,085,000 after purchasing an additional 71,761 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TREX shares. UBS Group dropped their target price 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. Benchmark restated a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Citigroup decreased their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on Trex in a research report on Tuesday. They set a “buy” rating and a $85.00 price objective for the company. Finally, Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report 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 company. According to MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average target price of $79.00.

Trex Stock Performance

TREX stock opened at $60.00 on Thursday. The company has a market capitalization of $6.43 billion, a P/E ratio of 27.40, a PEG ratio of 2.51 and a beta of 1.60. The company has a fifty day moving average price of $63.73 and a 200-day moving average price of $67.82. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $97.69.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping 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 the consensus estimate of $160.54 million. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on 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 in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is owned by insiders.

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.