• Thu. Aug 11th, 2022

Trex Company, Inc. (NYSE:TREX) Position removed by Sigma Planning Corp

ByLinda W. Smith

Jul 8, 2022

Sigma Planning Corp reduced its stake in Trex Company, Inc. (NYSE: TREX – Get Rating) by 29.2% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor held 9,025 shares of the construction company after selling 3,717 shares during the quarter. Sigma Planning Corp’s holdings in Trex were worth $590,000 at the end of the most recent reporting period.

A number of other hedge funds also changed their TREX holdings. Norges Bank bought a new position in Trex during Q4 worth $193,977,000. Allspring Global Investments Holdings LLC acquired a new equity stake in Trex during Q4 valued at $118,929,000. Blair William & Co. IL increased its position in Trex shares 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 acquiring 159,729 additional shares in the last quarter. State Street Corp increased its position in Trex shares 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 acquiring 142,333 additional shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Trex shares by 55.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 396,540 shares of the construction company valued at $53,545,000 after acquiring 142,149 additional shares in the last quarter. 93.63% of the shares are held by institutional investors and hedge funds.

Trex stock opened at $58.51 on Friday. The company has a market capitalization of $6.62 billion, a price/earnings ratio of 29.11, a PEG ratio of 1.30 and a beta of 1.47. Trex Company, Inc. has a 1-year low of $49.31 and a 1-year high of $140.98. The company’s fifty-day moving average price is $59.05 and its two-hundred-day moving average price is $78.21.

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

TREX has been the subject of a number of recent research reports. Berenberg Bank reiterated a “buy” rating and set a price target of $102.00 on Trex shares in a Friday, March 18 research report. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and reduced its target price for the company from $118.00 to $68.00 in a Monday, April 25 report. Exane BNP Paribas upgraded Trex from an “underperforming” rating to a “neutral” rating in a Friday, May 20 report. Barclays cut its target price on Trex from $84.00 to $68.00 in a Tuesday, May 10 report. Finally, Truist Financial reduced its target price on Trex from $120.00 to $90.00 in a Tuesday, May 10 report. Two investment analysts have assigned the stock a sell rating, eleven have issued a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.12.

Profile Trex (Get an assessment)

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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Want to see which other hedge funds hold TREX? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Trex Company, Inc. (NYSE:TREX – Get Rating).

Institutional ownership by quarter for Trex (NYSE:TREX)



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