Hsbc Holdings PLC Cuts Position in Trex Company, Inc. (NYSE:TREX)

Hsbc Holdings PLC cut its stake in Trex Company, Inc. (NYSE:TREXFree Report) by 48.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,188 shares of the construction company’s stock after selling 17,979 shares during the quarter. Hsbc Holdings PLC’s holdings in Trex were worth $1,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TREX. Loomis Sayles & Co. L P purchased a new position in Trex during the 3rd quarter worth $27,000. Contravisory Investment Management Inc. purchased a new position in Trex during the 4th quarter worth $28,000. Headinvest LLC purchased a new position in Trex during the 3rd quarter worth $29,000. Vestor Capital LLC purchased a new position in Trex during the 4th quarter worth $47,000. Finally, Covestor Ltd grew its stake in Trex by 623.8% during the 3rd quarter. Covestor Ltd now owns 941 shares of the construction company’s stock worth $58,000 after buying an additional 811 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is currently owned by insiders.

Trex Trading Down 1.9 %

NYSE TREX opened at $80.13 on Friday. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.79 and a beta of 1.56. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91. The stock has a 50-day moving average of $89.48 and a 200 day moving average of $86.61.

Trex (NYSE:TREXGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. Trex’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities analysts predict that Trex Company, Inc. will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird dropped their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. boosted their price target on Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. DA Davidson boosted their price target on Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial boosted their price target on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Barclays boosted their price target on Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.47.

Check Out Our Latest Analysis on Trex

Trex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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