First Nebraska Trust Co Makes New $2.50 Million Investment in Trex Company, Inc. $TREX

First Nebraska Trust Co acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the third quarter, HoldingsChannel.com reports. The firm acquired 57,295 shares of the construction company’s stock, valued at approximately $2,496,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TREX. BlackRock Inc. bought a new stake in shares of Trex in the 2nd quarter worth about $525,081,000. Wellington Management Group LLP increased its position in shares of Trex by 18.2% during the 2nd quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company’s stock worth $494,251,000 after purchasing an additional 1,518,338 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Trex during the 2nd quarter worth about $94,851,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Trex during the 3rd quarter worth about $32,858,000. Finally, Freestone Grove Partners LP bought a new position in Trex during the 2nd quarter valued at about $36,197,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Transactions at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.93% of the company’s stock.

Trex Trading Down 1.4%

Trex stock opened at $49.84 on Wednesday. The company has a market cap of $5.18 billion, a PE ratio of 28.72, a PEG ratio of 2.93 and a beta of 1.46. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $52.38. The company’s 50-day moving average is $45.74 and its two-hundred day moving average is $43.23.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Research analysts forecast that Trex Company, Inc. will post 1.77 EPS for the current year.

Analyst Ratings Changes

TREX has been the subject of several analyst reports. Bank of America lifted their price target on shares of Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, July 14th. Zacks Research cut shares of Trex from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Truist Financial raised their price objective on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $57.00 in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus target price of $50.48.

Trex Company Profile

Trex Company, Inc is a manufacturer of composite decking and outdoor living products. Its offerings are designed as alternatives to traditional wood and include residential and commercial decking, railing systems, outdoor lighting, and related accessories.

The company’s products are marketed under the Trex brand and include decking lines such as Trex Transcend, Trex Select, and Trex Enhance. Trex composite products are made primarily from recycled wood fibers and recycled polyethylene plastics, supporting the company’s focus on low-maintenance and environmentally oriented outdoor building materials.

Founded in 1996 and headquartered in Winchester, Virginia, Trex serves customers through a network of distributors, dealers, retailers, contractors, and building professionals.