PNC Financial Services Group Inc. Has $534,000 Stake in Trex Company, Inc. (NYSE:TREX)

PNC Financial Services Group Inc. raised its stake in shares of Trex Company, Inc. (NYSE:TREX) by 29.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,196 shares of the construction company’s stock after buying an additional 2,103 shares during the period. PNC Financial Services Group Inc.’s holdings in Trex were worth $534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Trex by 55.9% in the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company’s stock valued at $66,000 after acquiring an additional 408 shares in the last quarter. GAMMA Investing LLC grew its holdings in Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock valued at $97,000 after purchasing an additional 965 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after purchasing an additional 170 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of Trex in the first quarter worth $216,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Trex during the 1st quarter worth $218,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

Shares of Trex stock opened at $65.73 on Thursday. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $80.74. The firm has a market capitalization of $7.05 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 2.56 and a beta of 1.51. The company’s fifty day moving average price is $60.05 and its two-hundred day moving average price is $60.11.

Trex (NYSE:TREX) last issued its earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $387.80 million for the quarter, compared to analyst estimates of $377.49 million. Trex had a net margin of 16.53% and a return on equity of 21.27%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. Analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TREX has been the topic of several recent analyst reports. B. Riley upgraded shares of Trex to a “strong-buy” rating in a report on Monday, July 21st. DA Davidson set a $65.00 price objective on Trex and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. decreased their target price on Trex from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Loop Capital reaffirmed a “hold” rating and issued a $66.00 price target on shares of Trex in a research report on Tuesday, August 5th. Finally, Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

Insiders Place Their Bets

In other news, SVP Amy M. Fernandez sold 1,538 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total value of $98,708.84. Following the sale, the senior vice president directly owned 22,953 shares in the company, valued at approximately $1,473,123.54. This represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

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.