Northern Trust Corp Grows Stake in Trex Company, Inc. (NYSE:TREX)

Northern Trust Corp lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 20.0% in the 4th quarter, HoldingsChannel reports. The firm owned 954,821 shares of the construction company’s stock after buying an additional 159,315 shares during the quarter. Northern Trust Corp’s holdings in Trex were worth $65,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of TREX. Wilmington Savings Fund Society FSB purchased a new stake in Trex in the third quarter worth $30,000. Mather Group LLC. increased its holdings in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its stake in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares during the period. Huntington National Bank lifted its holdings in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after purchasing an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Trex in the fourth quarter worth about $41,000. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a research report on Monday, March 3rd. Barclays decreased their price objective on Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Trex currently has an average rating of “Hold” and a consensus price target of $77.18.

Trex Price Performance

NYSE:TREX opened at $58.12 on Wednesday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.51 and a beta of 1.62. The business has a 50 day moving average of $57.10 and a 200 day moving average of $65.90. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $93.96.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $160.54 million. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’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 sale, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Trex 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.