Trex Company, Inc. (NYSE:TREX) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lessened its stake in shares of Trex Company, Inc. (NYSE:TREX) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,404 shares of the construction company’s stock after selling 445 shares during the quarter. First Hawaiian Bank’s holdings in Trex were worth $1,237,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TREX. Norges Bank purchased a new position in shares of Trex during the 4th quarter worth $113,613,000. TD Asset Management Inc lifted its stake in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after purchasing an additional 1,341,419 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Trex by 250.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after purchasing an additional 670,665 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Trex by 19.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after purchasing an additional 660,536 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Trex by 910.6% during the 3rd quarter. Fred Alger Management LLC now owns 447,159 shares of the construction company’s stock worth $27,558,000 after purchasing an additional 402,913 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX opened at $84.17 on Thursday. The firm has a fifty day moving average of $87.62 and a 200-day moving average of $87.43. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Analysts predict that Trex Company, Inc. will post 2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group increased their target price on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. DA Davidson increased their target price on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial increased their target price on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Barclays increased their target price on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.47.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

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.