SVB Wealth LLC Acquires Shares of 54,146 Trex Company, Inc. (NYSE:TREX)

SVB Wealth LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 54,146 shares of the construction company’s stock, valued at approximately $3,738,000.

A number of other institutional investors have also made changes to their positions in the stock. Wasatch Advisors LP increased its stake in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. State Street Corp raised its stake in shares of Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after purchasing an additional 37,436 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock valued at $135,834,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC grew its position in Trex by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after purchasing an additional 35,039 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of Trex in the 4th quarter valued at about $110,414,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Up 2.3 %

NYSE:TREX opened at $61.71 on Friday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $100.77. The company has a fifty day moving average of $68.96 and a 200-day moving average of $68.65.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’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 directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Jefferies Financial Group dropped their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Finally, Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.38.

About Trex

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.