First Nebraska Trust Co acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,005 shares of the construction company’s stock, valued at approximately $2,802,000. First Nebraska Trust Co owned 0.05% of Trex at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bank of Nova Scotia purchased a new position in shares of Trex in the 2nd quarter worth approximately $15,997,000. Pinnbrook Capital Management LP purchased a new stake in Trex during the 2nd quarter valued at $4,699,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Trex during the 2nd quarter valued at $89,000. William Blair Investment Management LLC bought a new stake in Trex in the second quarter worth $25,597,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Trex in the second quarter worth $5,377,000. 95.96% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on TREX shares. Stifel Nicolaus set a $49.00 target price on shares of Trex and gave the company a “hold” rating in a research note on Tuesday, August 11th. Barclays reaffirmed an “underweight” rating and set a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Truist Financial upped their price target on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Trex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Trex presently has an average rating of “Hold” and an average price target of $49.30.
Insider Activity
In other news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex 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 sale, the senior vice president directly owned 36,631 shares of the company’s stock, valued at $1,831,550. This represents a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by insiders.
Trex Trading Down 1.1%
NYSE:TREX opened at $46.80 on Friday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The stock has a fifty day simple moving average of $46.72 and a 200-day simple moving average of $42.36.
Trex (NYSE:TREX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The company had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts predict that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.
Trex Company Profile
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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