CIBC Private Wealth Group LLC Reduces Position in Trex Company, Inc. (NYSE:TREX)

CIBC Private Wealth Group LLC cut its position in Trex Company, Inc. (NYSE:TREX) by 0.7% during the first quarter, HoldingsChannel reports. The firm owned 1,449,482 shares of the construction company’s stock after selling 10,052 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Trex were worth $132,686,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp increased its position in shares of Trex by 14.6% in the 1st quarter. Fifth Third Bancorp now owns 808 shares of the construction company’s stock valued at $74,000 after purchasing an additional 103 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Trex by 0.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 42,530 shares of the construction company’s stock valued at $3,561,000 after purchasing an additional 110 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Trex by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 38,493 shares of the construction company’s stock valued at $3,524,000 after purchasing an additional 110 shares during the last quarter. Exencial Wealth Advisors LLC increased its position in shares of Trex by 3.3% in the 1st quarter. Exencial Wealth Advisors LLC now owns 3,623 shares of the construction company’s stock valued at $332,000 after purchasing an additional 115 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Trex by 3.2% in the 4th quarter. M&T Bank Corp now owns 4,109 shares of the construction company’s stock valued at $345,000 after buying an additional 126 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Shares of TREX stock traded up $0.88 during mid-day trading on Friday, hitting $99.98. The stock had a trading volume of 2,234 shares, compared to its average volume of 731,714. Trex Company, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $111.04. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 63.32 and a beta of 1.47. The company has a 50-day simple moving average of $101.15.

Trex (NYSE:TREX) last released its earnings results on Sunday, May 9th. The construction company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Trex had a net margin of 19.63% and a return on equity of 33.59%. The company had revenue of $245.52 million during the quarter, compared to analysts’ expectations of $239.31 million. During the same quarter last year, the business earned $0.73 EPS. The business’s revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.02 earnings per share for the current year.

TREX has been the topic of a number of recent analyst reports. Truist Securities increased their target price on shares of Trex from $20.00 to $125.00 in a research report on Tuesday, May 11th. JPMorgan Chase & Co. initiated coverage on shares of Trex in a research report on Wednesday, May 5th. They issued a “neutral” rating and a $109.00 target price on the stock. Truist raised shares of Trex from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $120.00 in a research report on Monday, April 12th. B. Riley increased their target price on shares of Trex from $81.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, May 12th. Finally, Barclays increased their target price on shares of Trex from $104.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 11th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Trex currently has a consensus rating of “Hold” and a consensus target price of $96.72.

In related news, Director Jay M. Gratz sold 3,692 shares of the firm’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $90.13, for a total value of $332,759.96. Following the completion of the sale, the director now owns 24,770 shares in the company, valued at $2,232,520.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay M. Gratz sold 2,140 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $100.92, for a total transaction of $215,968.80. Following the completion of the sale, the director now owns 22,630 shares of the company’s stock, valued at approximately $2,283,819.60. The disclosure for this sale can be found here. Insiders sold 27,004 shares of company stock valued at $2,719,210 in the last quarter. Company insiders own 0.69% of the company’s stock.

Trex Profile

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories primarily for residential decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening systems; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

Read More: Momentum Indicators

Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company, Inc. (NYSE:TREX).

Institutional Ownership by Quarter for Trex (NYSE:TREX)

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.