• Thu. Aug 11th, 2022

National Asset Management Inc. acquires 1,943 shares of Trex Company, Inc. (NYSE: TREX)

ByLinda W. Smith

Jul 30, 2022

National Asset Management Inc. increased its holdings of Trex Company, Inc. (NYSE:TREX – Get Rating) stock by 60.6% in Q1, according to its most recent Form 13F filing with the SEC. The company held 5,148 shares of the construction company after purchasing an additional 1,943 shares during the period. National Asset Management Inc.’s holdings in Trex were worth $337,000 when it last filed with the SEC.

Several other large investors have also recently increased or reduced their stakes in the company. State Street Corp increased its stake in Trex by 4.3% during the fourth quarter. State Street Corp now owns 3,468,578 shares of the construction company valued at $468,362,000 after purchasing an additional 142,333 shares during the period. Conestoga Capital Advisors LLC increased its stake in Trex by 3.8% during the first quarter. Conestoga Capital Advisors LLC now owns 1,736,786 shares of the construction company valued at $113,464,000 after purchasing an additional 63,050 shares during the period. Blair William & Co. IL increased its stake in Trex by 11.5% during the fourth quarter. Blair William & Co. IL now owns 1,545,282 shares of the construction company valued at $208,659,000 after purchasing an additional 159,729 shares during the period. Bank of America Corp DE increased its stake in Trex by 3.6% in the fourth quarter. Bank of America Corp DE now owns 1,537,172 shares of the construction company valued at $207,564,000 after purchasing an additional 53,086 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Trex by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,451,395 shares of the construction company valued at $195,982,000 after purchasing an additional 7,798 shares during the period. Institutional investors hold 93.63% of the company’s shares.

Changes to analyst ratings

A number of equity research analysts have weighed in on the company. Truist Financial lowered its price target on Trex from $120.00 to $90.00 in a Tuesday, May 10 research report. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered its price target for the company from $118.00 to $68.00 in a Monday, April 25 research report. Stephens lowered his price target on Trex to $90.00 and gave the stock an “na” rating in a Monday, May 16 research report. JPMorgan Chase & Co. lowered its price target on Trex from $66.00 to $54.00 in a Friday, July 15 research report. Finally, Barclays lowered its price target on Trex from $68.00 to $63.00 and set an “equal weight” rating on the stock in a Thursday, July 14 research report. Two investment analysts have assigned the stock a sell rating, eleven have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat, Trex currently has a consensus rating of “Hold” and an average target price of $87.94.

Trex Price Performance

NYSE:TREX shares opened at $64.52 on Friday. Trex Company, Inc. has a 1-year low of $49.31 and a 1-year high of $140.98. The company has a market capitalization of $7.30 billion, a PE ratio of 32.10, a P/E/G ratio of 1.39 and a beta of 1.47. The stock’s 50-day moving average is $59.02 and its 200-day moving average is $70.00.

Trex (NYSE:TREX – Get Rating) last reported quarterly results on Monday, May 9. The construction company reported earnings per share (EPS) of $0.62 for the quarter, beating consensus analyst estimates of $0.54 by $0.08. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company posted revenue of $339.23 million for the quarter, versus a consensus estimate of $326.67 million. In the same quarter of the previous year, the company achieved EPS of $0.42. Trex’s revenues increased 38.2% over the same quarter last year. Analysts expect Trex Company, Inc. to post EPS of 2.47 for the current fiscal year.

About Trex

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Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.

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Institutional ownership by quarter for Trex (NYSE:TREX)



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