UBS Group AG Sells 361,298 Shares of Trex Company, Inc. $TREX

UBS Group AG cut its stake in Trex Company, Inc. (NYSE:TREX) by 79.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 95,130 shares of the construction company’s stock after selling 361,298 shares during the period. UBS Group AG’s holdings in Trex were worth $3,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TREX. WCM Investment Management LLC lifted its holdings in shares of Trex by 734.5% during the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock worth $2,033,000 after acquiring an additional 34,825 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Trex during the 3rd quarter worth about $3,614,000. Thrivent Financial for Lutherans lifted its holdings in shares of Trex by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock worth $46,859,000 after acquiring an additional 66,721 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after acquiring an additional 698,628 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in shares of Trex by 93.0% during the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after acquiring an additional 932,247 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Trading Down 0.1%

Shares of TREX opened at $39.16 on Monday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 7.94 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The company’s fifty day simple moving average is $38.62 and its 200 day simple moving average is $38.24.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TREX shares. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup restated a “neutral” rating and issued a $43.00 price objective (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. DA Davidson lifted their price target on shares of Trex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Bank of America reduced their price objective on shares of Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.42.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.