Hsbc Holdings PLC Has $324,000 Stock Position in Trex Company, Inc. (NYSE:TREX)

Hsbc Holdings PLC cut its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 95.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,691 shares of the construction company's stock after selling 108,479 shares during the period. Hsbc Holdings PLC's holdings in Trex were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Trex by 121.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,554 shares of the construction company's stock valued at $1,350,000 after purchasing an additional 10,712 shares during the last quarter. Mirova increased its stake in shares of Trex by 280.4% in the 4th quarter. Mirova now owns 24,687 shares of the construction company's stock valued at $1,704,000 after acquiring an additional 18,198 shares during the last quarter. MML Investors Services LLC raised its position in shares of Trex by 23.3% in the 4th quarter. MML Investors Services LLC now owns 44,920 shares of the construction company's stock valued at $3,101,000 after acquiring an additional 8,482 shares during the period. Curi RMB Capital LLC boosted its stake in Trex by 1.0% during the 4th quarter. Curi RMB Capital LLC now owns 68,852 shares of the construction company's stock worth $4,753,000 after acquiring an additional 703 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in Trex during the fourth quarter valued at approximately $321,000. Institutional investors own 95.96% of the company's stock.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TREX shares. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Citigroup decreased their target price on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. DA Davidson reaffirmed a "neutral" rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. UBS Group decreased their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Trex has an average rating of "Hold" and an average price target of $77.18.

Trex Price Performance

Shares of Trex stock opened at $58.17 on Friday. The business has a fifty day simple moving average of $56.97 and a two-hundred day simple moving average of $65.80. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $93.96. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share 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.

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