Amundi Increases Stake in Trex Company, Inc. (NYSE:TREX)

Amundi increased its stake in Trex Company, Inc. (NYSE:TREX) by 12.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 259,112 shares of the construction company’s stock after acquiring an additional 29,604 shares during the period. Amundi’s holdings in Trex were worth $17,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TREX. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex in the 3rd quarter worth about $30,000. Mather Group LLC. lifted 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 acquiring an additional 191 shares during the period. Avior Wealth Management LLC boosted its stake in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Trex in the fourth quarter worth about $41,000. Finally, V Square Quantitative Management LLC increased its stake 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 valued at $43,000 after purchasing an additional 202 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were 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 approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.

Trex Price Performance

NYSE TREX opened at $53.99 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $100.77. The business’s fifty day moving average price is $66.80 and its 200-day moving average price is $68.29.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TREX. JPMorgan Chase & Co. dropped their price target on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Citigroup cut their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group reduced their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.63.

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.