Norges Bank Invests $62.90 Million in Trex Company, Inc. $TREX

Norges Bank acquired a new position in Trex Company, Inc. (NYSE:TREX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,793,154 shares of the construction company’s stock, valued at approximately $62,904,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. bought a new position in Trex in the 4th quarter worth $47,000. Rothschild Investment LLC boosted its holdings in Trex by 354.2% in the 4th quarter. Rothschild Investment LLC now owns 5,278 shares of the construction company’s stock worth $185,000 after buying an additional 4,116 shares during the period. Geode Capital Management LLC boosted its holdings in Trex by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock worth $67,132,000 after buying an additional 24,892 shares during the period. Royce & Associates LP bought a new position in Trex in the 4th quarter worth $5,295,000. Finally, Clearstead Trust LLC bought a new position in Trex in the 4th quarter worth $33,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Down 0.9%

TREX opened at $39.79 on Friday. The firm has a 50-day simple moving average of $39.37 and a two-hundred day simple moving average of $38.69. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78. The company has a market capitalization of $4.13 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 8.03 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $339.99 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on TREX shares. UBS Group reaffirmed a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a report on Friday, May 8th. Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Bank of America dropped their target price on shares of Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Wall Street Zen downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Saturday. Finally, DA Davidson reissued a “buy” rating and set a $51.00 price objective on shares of Trex in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.42.

Trex 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.