SVB Wealth LLC Takes $3.74 Million Position in Trex Company, Inc. (NYSE:TREX)

SVB Wealth LLC acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 54,146 shares of the construction company's stock, valued at approximately $3,738,000. SVB Wealth LLC owned approximately 0.05% of Trex at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. lifted its position in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after purchasing an additional 147 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after purchasing an additional 148 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock worth $230,000 after purchasing an additional 175 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock worth $152,000 after purchasing an additional 184 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company's stock.

Trex Stock Down 3.6 %

Trex stock traded down $2.20 on Monday, hitting $59.49. The company's stock had a trading volume of 1,354,659 shares, compared to its average volume of 1,357,276. The firm has a market cap of $6.37 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The company has a fifty day moving average price of $68.96 and a 200-day moving average price of $68.76. Trex Company, Inc. has a one year low of $58.68 and a one year high of $100.77.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on TREX shares. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a research report on Monday. StockNews.com raised shares of Trex from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Jefferies Financial Group cut their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. DA Davidson reaffirmed a "neutral" rating and set a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Finally, UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trex presently has an average rating of "Hold" and a consensus price target of $78.38.

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.