Truist Financial Corp Raises Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Truist Financial Corp grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,949 shares of the construction company’s stock after acquiring an additional 515 shares during the quarter. Truist Financial Corp’s holdings in Trex were worth $293,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TREX. Quarry LP boosted its holdings in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Creative Planning boosted its stake in shares of Trex by 0.7% in the 2nd quarter. Creative Planning now owns 60,284 shares of the construction company’s stock worth $4,468,000 after buying an additional 412 shares during the last quarter. Scientech Research LLC grew its holdings in shares of Trex by 302.0% in the second quarter. Scientech Research LLC now owns 13,581 shares of the construction company’s stock worth $1,007,000 after acquiring an additional 10,203 shares during the period. Millennium Management LLC increased its position in Trex by 354.7% during the second quarter. Millennium Management LLC now owns 206,206 shares of the construction company’s stock valued at $15,284,000 after acquiring an additional 160,853 shares during the last quarter. Finally, Alpha DNA Investment Management LLC lifted its holdings in Trex by 9.7% in the second quarter. Alpha DNA Investment Management LLC now owns 5,734 shares of the construction company’s stock valued at $425,000 after acquiring an additional 505 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

Shares of TREX opened at $64.61 on Friday. The firm has a market cap of $7.02 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.50. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The company has a 50 day simple moving average of $64.99 and a two-hundred day simple moving average of $77.28.

Trex (NYSE:TREX) last posted 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. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.71 earnings per share. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

TREX has been the subject of a number of recent research reports. DA Davidson cut their price target on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Stifel Nicolaus reduced their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Benchmark cut their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their target price on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $81.31.

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.