M&T Bank Corp Purchases New Holdings in Trex Company, Inc. $TREX

M&T Bank Corp bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 26,130 shares of the construction company's stock, valued at approximately $917,000.

A number of other institutional investors have also bought and sold shares of the business. WCM Investment Management LLC lifted its stake in Trex by 734.5% in the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company's stock valued at $2,033,000 after buying an additional 34,825 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Trex during the 3rd quarter valued at $3,614,000. Thrivent Financial for Lutherans grew its holdings in Trex by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company's stock valued at $46,859,000 after buying an additional 66,721 shares during the last quarter. Federated Hermes Inc. grew its holdings in Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company's stock valued at $75,949,000 after buying an additional 698,628 shares during the last quarter. Finally, Pembroke Management LTD grew its holdings in Trex by 11.5% during the 3rd quarter. Pembroke Management LTD now owns 476,311 shares of the construction company's stock valued at $24,611,000 after buying an additional 49,073 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. DA Davidson increased their target price on Trex from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. Bank of America lowered their target price on Trex from $43.00 to $42.00 and set an "underperform" rating on the stock in a report on Monday, April 20th. Zacks Research upgraded Trex from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. Benchmark cut Trex from a "buy" rating to a "hold" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut Trex from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Trex has an average rating of "Hold" and an average price target of $47.88.

Trex Stock Down 1.1%

Shares of Trex stock opened at $39.19 on Friday. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78. The firm has a market cap of $4.07 billion, a PE ratio of 22.14, a P/E/G ratio of 9.08 and a beta of 1.61. The business's fifty day moving average is $39.00 and its two-hundred day moving average is $39.53.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The company had revenue of $161.13 million for the quarter, compared to analyst estimates of $144.39 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Trex Company, Inc. will post 1.63 EPS for the current year.

Trex 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.