KLP Kapitalforvaltning AS Takes $1.52 Million Position in Trex Company, Inc. (NYSE:TREX)

KLP Kapitalforvaltning AS acquired a new position in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,000 shares of the construction company’s stock, valued at approximately $1,519,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TREX. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter valued at about $30,000. Mather Group LLC. increased its position in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Trex in the 4th quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

TREX stock opened at $57.38 on Friday. The business has a 50-day simple moving average of $64.54 and a two-hundred day simple moving average of $67.91. The company has a market capitalization of $6.15 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $99.86.

Trex (NYSE:TREX) last announced 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 business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TREX. Jefferies Financial Group lowered their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Citigroup cut their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Bank of America cut their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $78.63.

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.