M&T Bank Corp Raises Stock Holdings in Trex Company, Inc. (NYSE:TREX)

M&T Bank Corp raised its position in shares of Trex Company, Inc. (NYSE:TREX) by 5.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,290 shares of the construction company’s stock after purchasing an additional 235 shares during the quarter. M&T Bank Corp’s holdings in Trex were worth $296,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new position in shares of Trex during the fourth quarter valued at about $110,414,000. Wasatch Advisors LP grew its stake in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after purchasing an additional 839,837 shares during the period. Point72 Asset Management L.P. raised its position in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

TREX has been the topic of several research analyst reports. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. UBS Group reduced 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. Truist Financial decreased their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Citigroup decreased their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $78.63.

Trex Trading Up 5.3 %

Shares of NYSE:TREX opened at $56.88 on Friday. The stock has a fifty day simple moving average of $66.51 and a two-hundred day simple moving average of $68.19. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.77. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.51 and a beta of 1.60.

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

Trex Company Profile

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.