Trex Company, Inc. (NYSE:TREX) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in Trex Company, Inc. (NYSE:TREX) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,897 shares of the construction company’s stock after purchasing an additional 309 shares during the period. Corient Private Wealth LLC’s holdings in Trex were worth $269,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Trex by 97.6% during the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after buying an additional 393,850 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Trex during the fourth quarter worth about $247,000. SG Americas Securities LLC increased its stake in shares of Trex by 298.5% in the fourth quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company’s stock valued at $424,000 after purchasing an additional 4,597 shares during the period. Point72 Asset Management L.P. boosted its position in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after acquiring an additional 511,163 shares during the period. Finally, Park Avenue Securities LLC boosted its position in Trex by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock worth $514,000 after acquiring an additional 1,566 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.4 %

NYSE:TREX opened at $58.11 on Tuesday. The stock has a fifty day simple moving average of $64.27 and a 200 day simple moving average of $67.93. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $99.86.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Truist Financial cut their target price on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price target on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

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.