KBC Group NV Acquires 10,252 Shares of Trex Company, Inc. (NYSE:TREX)

KBC Group NV grew its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,032 shares of the construction company's stock after buying an additional 10,252 shares during the period. KBC Group NV owned 0.06% of Trex worth $3,488,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp raised its stake in Trex by 53.2% in the 4th quarter. Truist Financial Corp now owns 5,479 shares of the construction company's stock valued at $378,000 after acquiring an additional 1,902 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $2,116,000. SRS Capital Advisors Inc. lifted its stake in shares of Trex by 16.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,585 shares of the construction company's stock valued at $178,000 after buying an additional 359 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Trex by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company's stock worth $63,965,000 after buying an additional 24,554 shares during the period. Finally, WoodTrust Financial Corp purchased a new position in Trex in the 4th quarter valued at approximately $207,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent research reports. Benchmark restated a "buy" rating and set a $80.00 target price on shares of Trex in a research report on Monday, May 12th. UBS Group dropped their price objective on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a report on Thursday, April 17th. Citigroup reduced their target price on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $76.65.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president directly owned 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president directly owned 24,569 shares in the company, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.71% of the company's stock.

Trex Stock Performance

TREX traded down $0.35 on Friday, reaching $58.94. The company had a trading volume of 1,159,273 shares, compared to its average volume of 1,441,553. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $86.56. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.49 and a beta of 1.50. The business has a 50 day simple moving average of $57.15 and a 200 day simple moving average of $61.40.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter last year, the company posted $0.82 EPS. The business's quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal 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.