Trex Company, Inc. (NYSE:TREX) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its holdings in Trex Company, Inc. (NYSE:TREX) by 32.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,900 shares of the construction company’s stock after purchasing an additional 19,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Trex worth $5,922,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Trex during the 2nd quarter valued at approximately $1,984,000. Inspire Investing LLC raised its position in shares of Trex by 32.1% during the 2nd quarter. Inspire Investing LLC now owns 4,748 shares of the construction company’s stock valued at $352,000 after acquiring an additional 1,153 shares in the last quarter. MQS Management LLC raised its position in shares of Trex by 36.4% during the 2nd quarter. MQS Management LLC now owns 6,003 shares of the construction company’s stock valued at $445,000 after acquiring an additional 1,602 shares in the last quarter. Seven Eight Capital LP raised its position in shares of Trex by 712.6% during the 2nd quarter. Seven Eight Capital LP now owns 16,357 shares of the construction company’s stock valued at $1,212,000 after acquiring an additional 14,344 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Trex by 8.3% during the 2nd quarter. Hsbc Holdings PLC now owns 20,773 shares of the construction company’s stock valued at $1,537,000 after acquiring an additional 1,595 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on TREX shares. Citigroup lowered their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Robert W. Baird lowered their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. B. Riley lowered their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Bank of America lowered their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Benchmark lowered their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $80.88.

Trex Stock Down 2.9 %

Shares of TREX stock opened at $69.15 on Monday. The stock has a 50-day simple moving average of $69.65 and a 200 day simple moving average of $81.38. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a market capitalization of $7.52 billion, a P/E ratio of 29.68, a P/E/G ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.03 earnings per share for the current year.

Trex 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.