22,000 Shares in Trex Company, Inc. (NYSE:TREX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, HoldingsChannel reports. The fund acquired 22,000 shares of the construction company’s stock, valued at approximately $1,519,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Trex by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company’s stock valued at $60,060,000 after purchasing an additional 27,992 shares during the period. Citigroup Inc. grew its stake in shares of Trex by 42.3% during the 3rd quarter. Citigroup Inc. now owns 68,775 shares of the construction company’s stock worth $4,579,000 after acquiring an additional 20,445 shares during the period. Fisher Asset Management LLC increased its holdings in Trex by 22.1% in the 3rd quarter. Fisher Asset Management LLC now owns 119,296 shares of the construction company’s stock worth $7,943,000 after acquiring an additional 21,597 shares during the last quarter. Bank of Montreal Can raised its stake in Trex by 227.7% in the 3rd quarter. Bank of Montreal Can now owns 120,162 shares of the construction company’s stock valued at $8,158,000 after acquiring an additional 83,491 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 435,055 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Price Performance

TREX stock opened at $57.38 on Friday. The firm has a 50 day simple moving average of $64.54 and a two-hundred day simple moving average of $67.91. The stock has a market cap of $6.15 billion, a PE ratio of 26.20, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a one year low of $52.75 and a one year high of $99.86.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. On average, research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TREX shares. Bank of America lowered their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. UBS Group decreased their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trex presently has an average rating of “Hold” and an average target price of $78.63.

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.