Trex Company, Inc. (NYSE:TREX) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,200 shares of the construction company’s stock after selling 1,473 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Trex were worth $359,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bank of Montreal Can raised its stake in Trex by 147.5% during the second quarter. Bank of Montreal Can now owns 36,671 shares of the construction company’s stock worth $2,718,000 after purchasing an additional 21,852 shares during the period. Millennium Management LLC increased its holdings in shares of Trex by 354.7% during the 2nd quarter. Millennium Management LLC now owns 206,206 shares of the construction company’s stock worth $15,284,000 after buying an additional 160,853 shares during the last quarter. Creative Planning boosted its holdings in Trex by 0.7% in the second quarter. Creative Planning now owns 60,284 shares of the construction company’s stock valued at $4,468,000 after acquiring an additional 412 shares during the last quarter. Quarry LP grew its position in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. Finally, Truist Financial Corp grew its position in Trex by 15.0% during the second quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock valued at $293,000 after acquiring an additional 515 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TREX shares. DA Davidson lifted their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their target price on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus target price of $79.81.

Trex Trading Up 0.8 %

Shares of NYSE TREX opened at $74.32 on Tuesday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 3.06 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The business has a 50 day simple moving average of $72.33 and a 200-day simple moving average of $70.11.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. As a group, equities analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current year.

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.