First National Bank of Hutchinson Grows Position in Trex Company, Inc. (NYSE:TREX)

First National Bank of Hutchinson increased its position in Trex Company, Inc. (NYSE:TREX) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,429 shares of the construction company’s stock after buying an additional 2,016 shares during the quarter. First National Bank of Hutchinson’s holdings in Trex were worth $996,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd purchased a new position in shares of Trex in the fourth quarter valued at about $110,414,000. Wasatch Advisors LP increased its holdings in Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. raised 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 valued at $68,075,000 after purchasing an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TREX. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. UBS Group reduced their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. DA Davidson reiterated a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Finally, Truist Financial lowered their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Performance

Shares of Trex stock opened at $59.17 on Thursday. The company has a 50-day simple moving average of $65.70 and a two-hundred day simple moving average of $68.03. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $100.77. The stock has a market capitalization of $6.34 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company’s stock, 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 at the SEC website. 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.