Trex Company, Inc. (NYSE:TREX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in Trex Company, Inc. (NYSE:TREX) by 80.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,952 shares of the construction company’s stock after selling 120,635 shares during the period. BNP Paribas Financial Markets’ holdings in Trex were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its holdings in Trex by 3.3% in the 4th quarter. Ameriprise Financial Inc. now owns 424,010 shares of the construction company’s stock worth $29,269,000 after acquiring an additional 13,466 shares in the last quarter. AXA S.A. increased its holdings in Trex by 18.9% in the 4th quarter. AXA S.A. now owns 286,682 shares of the construction company’s stock worth $19,790,000 after acquiring an additional 45,632 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Trex by 35.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,004 shares of the construction company’s stock worth $553,000 after acquiring an additional 2,086 shares in the last quarter. Northern Trust Corp increased its holdings in Trex by 20.0% in the 4th quarter. Northern Trust Corp now owns 954,821 shares of the construction company’s stock worth $65,911,000 after acquiring an additional 159,315 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Trex by 13.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 598,972 shares of the construction company’s stock worth $41,347,000 after buying an additional 69,826 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.65.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president now directly owns 24,569 shares in the company, valued at $1,502,885.73. This represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,286 shares of company stock valued at $323,003 over the last 90 days. 0.71% of the stock is owned by insiders.

Trex Trading Up 1.3%

Shares of TREX opened at $60.80 on Friday. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $88.87. The firm has a 50-day moving average price of $57.44 and a 200 day moving average price of $65.56. The firm has a market capitalization of $6.52 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Trex’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

About Trex

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.