BNP Paribas Financial Markets Purchases 415,507 Shares of Trex Company, Inc. $TREX

BNP Paribas Financial Markets lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 547.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 491,455 shares of the construction company’s stock after purchasing an additional 415,507 shares during the period. BNP Paribas Financial Markets’ holdings in Trex were worth $17,240,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after acquiring an additional 177 shares during the period. Benjamin Edwards Inc. raised its position in Trex by 1.9% in the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after acquiring an additional 214 shares during the period. Pinnacle Associates Ltd. raised its position in Trex by 0.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock worth $1,413,000 after acquiring an additional 285 shares during the period. Hsbc Holdings PLC raised its position in Trex by 6.3% in the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after acquiring an additional 322 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Trex by 0.7% in the third quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company’s stock worth $2,359,000 after acquiring an additional 333 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Trading Down 0.9%

Trex stock opened at $39.79 on Friday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 8.03 and a beta of 1.51. The firm has a 50 day simple moving average of $39.37 and a 200 day simple moving average of $38.69.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $339.99 million. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Trex Company, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TREX. Barclays reaffirmed an “underweight” rating and issued a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. UBS Group reaffirmed a “buy” rating and issued a $59.00 price objective (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Saturday. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.42.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.