Deutsche Bank AG Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Key Points

• Deutsche Bank AG reduced its stake in Trex Company, Inc. by 27.9%, selling over 102,000 shares in the first quarter, decreasing its ownership to 0.25% worth $15.5 million.
• Other institutional investors, including Charles Schwab and Empower Advisory Group, increased their shares, with ownership by institutions now at 95.96%.
• Trex reported earnings of $0.74 per share for the last quarter, exceeding estimates, while revenue of $387.8 million also surpassed expectations, reflecting a 3.0% year-over-year growth.

Deutsche Bank AG decreased its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,028 shares of the construction company's stock after selling 102,786 shares during the period. Deutsche Bank AG owned about 0.25% of Trex worth $15,456,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Trex in the fourth quarter worth $17,677,000. Bessemer Group Inc. grew its stake in shares of Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after buying an additional 170 shares during the last quarter. Farringdon Capital Ltd. bought a new position in shares of Trex during the fourth quarter valued at about $317,000. Dimensional Fund Advisors LP grew its stake in shares of Trex by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,553 shares of the construction company's stock valued at $106,349,000 after buying an additional 36,848 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Trex during the fourth quarter valued at about $321,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Trading Down 2.9%

Shares of NYSE TREX traded down $1.91 during midday trading on Friday, reaching $63.09. The company had a trading volume of 1,363,839 shares, compared to its average volume of 1,669,497. The business's 50-day simple moving average is $60.34 and its 200 day simple moving average is $59.89. The stock has a market cap of $6.77 billion, a P/E ratio of 36.47, a P/E/G ratio of 2.64 and a beta of 1.51. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $80.74.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The firm had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. During the same quarter last year, the company posted $0.80 earnings per share. The firm's revenue was up 3.0% compared to the same quarter last year. Analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TREX. Loop Capital reissued a "hold" rating and issued a $66.00 target price on shares of Trex in a research note on Tuesday, August 5th. B. Riley upgraded shares of Trex to a "strong-buy" rating in a report on Monday, July 21st. UBS Group reiterated a "neutral" rating and set a $74.00 target price (up from $72.00) on shares of Trex in a report on Tuesday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Benchmark restated a "buy" rating and issued a $80.00 price objective on shares of Trex in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Trex presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.93.

Insider Buying and Selling

In other news, SVP Amy M. Fernandez sold 1,538 shares of Trex stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total value of $98,708.84. Following the sale, the senior vice president owned 22,953 shares in the company, valued at $1,473,123.54. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.71% of the company's stock.

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.