First Hawaiian Bank lessened its stake in shares of Trex Company, Inc. (NYSE:TREX – Free Report) 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.
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.
Check Out Our Latest Research Report on TREX
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.
Featured Articles
- Five stocks we like better than Trex
- The 3 Best Blue-Chip Stocks to Buy Now
- Signet Jewelers Stock Poised for Rebound After Earnings Drop
- What Are the FAANG Stocks and Are They Good Investments?
- Airship AI Lands New Contract: Stock Soars 16% and More to Come
- About the Markup Calculator
- Restoration Hardware Stock: Should You Buy After Earnings Drop?
Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company, Inc. (NYSE:TREX – Free Report).
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.