US Bancorp DE Sells 2,454 Shares of Trex Company, Inc. (NYSE:TREX)

US Bancorp DE trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 17.9% during the fourth quarter, HoldingsChannel reports. The firm owned 11,221 shares of the construction company’s stock after selling 2,454 shares during the quarter. US Bancorp DE’s holdings in Trex were worth $775,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TREX. Wilmington Savings Fund Society FSB bought a new stake in Trex in the 3rd quarter valued at $30,000. Mather Group LLC. lifted its position in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its position in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Trex in the 4th quarter valued at $41,000. Finally, V Square Quantitative Management LLC lifted its position in Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after buying an additional 202 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on TREX. Citigroup cut their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. UBS Group cut their price target 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. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Performance

Shares of TREX opened at $54.27 on Tuesday. Trex Company, Inc. has a 52 week low of $53.66 and a 52 week high of $100.77. The firm has a market cap of $5.82 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The firm’s 50-day simple moving average is $67.68 and its 200 day simple moving average is $68.55.

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

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.