CIBC Asset Management Inc Acquires 175 Shares of Trex Company, Inc. (NYSE:TREX)

CIBC Asset Management Inc lifted its position in Trex Company, Inc. (NYSE:TREX) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,335 shares of the construction company’s stock after buying an additional 175 shares during the period. CIBC Asset Management Inc’s holdings in Trex were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter worth $30,000. Mather Group LLC. raised its holdings in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Trex stock opened at $62.33 on Wednesday. The stock’s 50 day moving average price is $69.54 and its 200 day moving average price is $68.74. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The company has a market cap of $6.68 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business 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, equities research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Trex from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday. BMO Capital Markets upped their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson restated a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday. Finally, UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and an average price target of $78.38.

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.