Norges Bank Takes Position in Trex Company, Inc. (NYSE:TREX)

Norges Bank acquired a new position in shares of Trex Company, Inc. (NYSE:TREX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 783,492 shares of the construction company’s stock, valued at approximately $54,084,000. Norges Bank owned about 0.73% of Trex as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TREX. Wilmington Savings Fund Society FSB acquired a new position in Trex during the 3rd quarter worth about $30,000. Mather Group LLC. increased its position in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Trex in the 4th quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC increased its position in shares of Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after buying an additional 202 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. DA Davidson reissued a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Bank of America reduced their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a research note on Tuesday. They set a “buy” rating and a $85.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus target price of $79.00.

Trex Stock Down 0.8 %

Shares of NYSE TREX opened at $54.96 on Friday. The company has a market cap of $5.89 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52 week low of $50.35 and a 52 week high of $97.69. The business has a 50-day simple moving average of $62.97 and a two-hundred day simple moving average of $67.66.

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

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Trex 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.