First Nebraska Trust Co Purchases 57,295 Shares of Trex Company, Inc. $TREX

Key Points

• First Nebraska Trust Co. opened a new Trex position, buying 57,295 shares worth approximately $2.5 million, or 0.06% of the company.
• Trex reported quarterly revenue of $418 million, up 7.8% year over year and above estimates, while earnings per share of $0.62 narrowly missed the $0.63 consensus.
• Analysts’ consensus rating is Hold, with an average price target of $50.48; institutional investors collectively own 95.96% of Trex shares.

First Nebraska Trust Co acquired a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 57,295 shares of the construction company's stock, valued at approximately $2,496,000. First Nebraska Trust Co owned 0.06% of Trex as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Trex in the second quarter valued at about $525,081,000. Wellington Management Group LLP grew its position in Trex by 18.2% during the second quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company's stock worth $494,251,000 after buying an additional 1,518,338 shares in the last quarter. Bank of America Corp DE acquired a new stake in Trex during the second quarter worth about $94,851,000. Freestone Grove Partners LP bought a new position in Trex during the second quarter valued at about $36,197,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in Trex during the third quarter valued at about $32,858,000. Institutional investors own 95.96% of the company's stock.

Trex Stock Performance

NYSE:TREX opened at $49.84 on Wednesday. The company has a 50-day moving average of $45.74 and a 200-day moving average of $43.23. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $52.38. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.93 and a beta of 1.46.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.01). The business had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts forecast that Trex Company, Inc. will post 1.77 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TREX. Citigroup reaffirmed a "neutral" rating and issued a $52.00 price target (up from $43.00) on shares of Trex in a report on Wednesday, July 15th. Wall Street Zen upgraded Trex from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Zacks Research lowered Trex from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Stifel Nicolaus set a $55.00 price objective on Trex and gave the company a "buy" rating in a research report on Monday, October 19th. Finally, UBS Group restated a "buy" rating and issued a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Trex currently has an average rating of "Hold" and a consensus price target of $50.48.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares of the company's stock, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.93% of the company's stock.

Trex Profile

Trex Company, Inc is a manufacturer of composite decking and outdoor living products. Its offerings are designed as alternatives to traditional wood and include residential and commercial decking, railing systems, outdoor lighting, and related accessories.

The company's products are marketed under the Trex brand and include decking lines such as Trex Transcend, Trex Select, and Trex Enhance. Trex composite products are made primarily from recycled wood fibers and recycled polyethylene plastics, supporting the company's focus on low-maintenance and environmentally oriented outdoor building materials.

Founded in 1996 and headquartered in Winchester, Virginia, Trex serves customers through a network of distributors, dealers, retailers, contractors, and building professionals.

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