CIBC Private Wealth Group LLC Has $2.08 Million Stock Position 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 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd bought a new position in shares of Trex during the 4th quarter valued at about $110,414,000. Jacobs Levy Equity Management Inc. boosted its stake in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares during the period. Norges Bank bought a new position in Trex during the 4th quarter worth about $54,084,000. Point72 Asset Management L.P. raised its stake in shares of Trex by 100.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after purchasing an additional 393,850 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Up 2.6 %

Shares of NYSE TREX opened at $60.00 on Thursday. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $97.69. The company has a market cap of $6.43 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The business’s 50 day moving average price is $63.73 and its two-hundred day moving average price is $67.82.

Trex (NYSE:TREX) last posted 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. As a group, research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TREX shares. Jefferies Financial Group reduced their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. UBS Group lowered their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Trex presently has an average rating of “Hold” and an average target price of $79.00.

Trex Company 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.