Trex Company, Inc. (NYSE:TREX) Shares Bought by SG Americas Securities LLC

Posted by on Apr 26th, 2023

SG Americas Securities LLC raised its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 127.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,868 shares of the construction company’s stock after purchasing an additional 19,530 shares during the quarter. SG Americas Securities LLC’s holdings in Trex were worth $1,476,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd raised its holdings in shares of Trex by 178.8% during the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Trex in the first quarter valued at $67,000. Canada Pension Plan Investment Board boosted its stake in shares of Trex by 442.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,601 shares of the construction company’s stock worth $105,000 after buying an additional 1,306 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Trex by 24.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,444 shares of the construction company’s stock worth $107,000 after buying an additional 482 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new position in Trex during the third quarter worth about $156,000. Hedge funds and other institutional investors own 94.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TREX. Robert W. Baird increased their target price on shares of Trex from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and lifted their price target for the company from $55.00 to $64.00 in a report on Monday. Benchmark lifted their price target on shares of Trex from $60.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, B. Riley decreased their price target on shares of Trex from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.53.

Trex Price Performance

Trex stock opened at $53.68 on Wednesday. Trex Company, Inc. has a 12-month low of $38.68 and a 12-month high of $67.78. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 7.43 and a beta of 1.49. The firm’s fifty day moving average price is $50.29 and its 200 day moving average price is $48.28.

Trex (NYSE:TREX – Get Rating) last released its quarterly earnings results on Monday, February 27th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. Trex had a net margin of 16.69% and a return on equity of 32.97%. The firm had revenue of $192.10 million for the quarter, compared to the consensus estimate of $185.46 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was down 36.8% on a year-over-year basis. Analysts forecast that Trex Company, Inc. will post 1.53 earnings per share for the current fiscal year.

About Trex

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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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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