Zurcher Kantonalbank Zurich Cantonalbank Buys 3,970 Shares of Trex Company, Inc. (NYSE:TREX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Trex Company, Inc. (NYSE:TREX) by 16.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,972 shares of the construction company’s stock after purchasing an additional 3,970 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trex were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TREX. AustralianSuper Pty Ltd purchased a new stake in shares of Trex during the fourth quarter worth about $110,414,000. Wasatch Advisors LP lifted its holdings in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after buying an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Trex by 100.0% during the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Trex by 462.4% during the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after acquiring an additional 435,055 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

TREX opened at $57.71 on Tuesday. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $100.77. The stock has a 50-day moving average price of $66.01 and a 200-day moving average price of $68.14. The firm has a market cap of $6.18 billion, a PE ratio of 26.35, a P/E/G ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TREX. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a research report on Monday, March 3rd. DA Davidson restated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.63.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by insiders.

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.