Cwm LLC decreased its stake in Trex Company, Inc. (NYSE:TREX – Free Report) by 36.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 690 shares of the construction company’s stock after selling 396 shares during the quarter. Cwm LLC’s holdings in Trex were worth $34,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC increased its stake in shares of Trex by 0.8% in the first quarter. Clearbridge Investments LLC now owns 4,369,547 shares of the construction company’s stock worth $285,463,000 after acquiring an additional 34,596 shares during the last quarter. State Street Corp increased its position in Trex by 4.9% in the 1st quarter. State Street Corp now owns 3,637,869 shares of the construction company’s stock worth $237,662,000 after purchasing an additional 169,291 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Trex by 2.0% during the 4th quarter. Bamco Inc. NY now owns 3,512,925 shares of the construction company’s stock worth $148,702,000 after purchasing an additional 67,219 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Trex by 7.0% during the 1st quarter. Wasatch Advisors Inc. now owns 3,385,680 shares of the construction company’s stock valued at $221,186,000 after buying an additional 220,344 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Trex by 1.2% in the 4th quarter. Macquarie Group Ltd. now owns 2,917,703 shares of the construction company’s stock valued at $123,506,000 after buying an additional 34,010 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.
Wall Street Analyst Weigh In
TREX has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Trex from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets upped their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday. Credit Suisse Group raised their target price on Trex from $47.00 to $58.00 and gave the company an “underperform” rating in a report on Wednesday. B. Riley upped their price target on Trex from $64.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, UBS Group increased their price objective on Trex from $56.00 to $59.00 in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $75.80.
Trex Stock Down 0.7 %
Shares of TREX opened at $75.45 on Thursday. The stock’s 50-day moving average price is $62.82 and its 200 day moving average price is $55.95. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 57.60, a P/E/G ratio of 5.25 and a beta of 1.52. Trex Company, Inc. has a 12-month low of $38.68 and a 12-month high of $76.05.
Trex (NYSE:TREX – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. The business had revenue of $356.54 million for the quarter, compared to analysts’ expectations of $318.89 million. Trex had a return on equity of 29.17% and a net margin of 14.62%. Trex’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. Equities research analysts expect that Trex Company, Inc. will post 1.63 EPS for the current year.
About Trex
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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