SVB Wealth LLC Acquires Shares of 54,146 Trex Company, Inc. (NYSE:TREX)

SVB Wealth LLC bought a new position in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 54,146 shares of the construction company’s stock, valued at approximately $3,738,000. SVB Wealth LLC owned approximately 0.05% of Trex at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Wasatch Advisors LP lifted its stake in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp boosted its holdings in Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Trex by 0.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC boosted its position in Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in Trex in the 4th quarter valued at $110,414,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

Trex stock opened at $61.71 on Friday. The business has a 50 day simple moving average of $68.96 and a 200 day simple moving average of $68.65. The company has a market capitalization of $6.61 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a one year low of $58.68 and a one year high of $100.77.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Jefferies Financial Group cut their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Finally, Citigroup decreased their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.38.

Trex Company Profile

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.