Cerity Partners LLC takes position in Trex Company, Inc. (NYSE: TREX)
Cerity Partners LLC acquired a new stake in the shares of Trex Company, Inc. (NYSE: TREX – Get Rating) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 3,301 shares of the construction company, valued at approximately $216,000.
A number of other institutional investors and hedge funds have also recently changed their stock holdings. Mount Vernon Associates Inc. MD increased its stake in Trex by 1.0% during the 1st quarter. Mount Vernon Associates Inc. MD now owns 32,075 shares of the construction company worth $2,095,000 after acquiring 325 additional shares during the period. Conestoga Capital Advisors LLC increased its holdings of Trex shares 3.8% in the first quarter. Conestoga Capital Advisors LLC now owns 1,736,786 shares of the construction company worth $113,464,000 after purchasing an additional 63,050 shares during the period. Truist Financial Corp raised its position in Trex shares by 6.3% in the first quarter. Truist Financial Corp now owns 11,842 shares of the construction company worth $773,000 after buying an additional 699 shares last quarter. Louisiana State Employees Retirement System increased its stake in Trex by 1.7% during the first quarter. Louisiana State Employees Retirement System now owns 30,100 shares of the construction company valued at $1,915,000 after purchasing an additional 500 shares during the period. Finally, Inspire Investing LLC bought a new position in Trex during the first quarter worth approximately $231,000. 93.63% of the shares are currently held by institutional investors and hedge funds.
Shares of TREX opened at $55.35 on Friday. The stock has a market capitalization of $6.27 billion, a P/E ratio of 27.54, a PEG ratio of 1.33 and a beta of 1.47. Trex Company, Inc. has a 12-month low of $49.31 and a 12-month high of $140.98. The company has a fifty-day simple moving average of $58.77 and a two-hundred-day simple moving average of $75.67.
Trex (NYSE:TREX – Get Rating) last released its results on Monday, May 9. The construction company reported earnings per share of $0.62 for the quarter, beating analysts’ consensus estimate of $0.54 by $0.08. Trex had a net margin of 17.90% and a return on equity of 38.31%. The company posted revenue of $339.23 million in the quarter, versus analyst estimates of $326.67 million. In the same period a year earlier, the company posted earnings of $0.42 per share. Trex’s revenue for the quarter increased 38.2% year over year. On average, analysts predict that Trex Company, Inc. will post 2.47 earnings per share for the current fiscal year.
A number of brokerages have recently released reports on TREX. Bank of America launched coverage on Trex in a research report on Monday, April 25. They set an “underperforming” rating and a price target of $60.00 for the company. Credit Suisse Group downgraded Trex shares from an “underperforming” rating to a “neutral” rating and set a price target of $65.00 for the stock in a Tuesday, May 10 report . StockNews.com launched coverage on Trex shares in a Thursday, March 31 report. They set a “holding” rating for the company. Stephens cut his target price on Trex to $90.00 and gave the stock an “na” rating in a research note on Monday, May 16. Finally, Berenberg Bank reaffirmed a “buy” rating and set a price target of $102.00 on Trex shares in a Friday, March 18 research note. Two investment analysts have assigned the stock a sell rating, eleven have issued a hold rating and four have assigned the company’s stock a buy rating. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $88.82.
Profile Trex (Get a rating)
Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
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