Lombard Odier Asset Management Europe Ltd lessened its stake in shares of Trex Company, Inc. (NYSE:TREX – Free Report) by 79.7% during the first quarter, Holdings Channel.com reports. The fund owned 11,972 shares of the construction company’s stock after selling 46,997 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Trex were worth $436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Trex during the 4th quarter valued at $4,748,000. M&T Bank Corp acquired a new stake in shares of Trex in the fourth quarter valued at $917,000. CWM LLC lifted its holdings in shares of Trex by 182.0% in the fourth quarter. CWM LLC now owns 85,995 shares of the construction company’s stock valued at $3,017,000 after buying an additional 55,495 shares during the period. Osborne Partners Capital Management LLC bought a new position in Trex during the fourth quarter valued at about $5,256,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in Trex by 76.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 69,509 shares of the construction company’s stock valued at $2,438,000 after buying an additional 30,191 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.
Insider Activity
In related news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by company insiders.
Trex Stock Performance
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts forecast that Trex Company, Inc. will post 1.78 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on TREX shares. Truist Financial lifted their price objective on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Barclays reiterated an “underweight” rating and set a $42.00 price objective (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 price objective (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. Weiss Ratings raised Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.00.
Check Out Our Latest Research Report on Trex
About Trex
Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.
Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.
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