ING Groep NV Buys Shares of 73,100 Trex Company, Inc. $TREX

ING Groep NV bought a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, HoldingsChannel.com reports. The firm bought 73,100 shares of the construction company’s stock, valued at approximately $2,564,000.

Several other large investors also recently added to or reduced their stakes in TREX. AQR Capital Management LLC raised its stake in Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares during the period. Goldman Sachs Group Inc. raised its stake in Trex by 91.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after purchasing an additional 392,715 shares during the period. Hsbc Holdings PLC raised its stake in Trex by 6.3% during the 2nd quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock valued at $294,000 after purchasing an additional 322 shares during the period. First Trust Advisors LP raised its stake in Trex by 535.1% during the 2nd quarter. First Trust Advisors LP now owns 22,038 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 18,568 shares during the period. Finally, Jump Financial LLC acquired a new stake in Trex during the 2nd quarter valued at $1,055,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Saturday. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $53.00 in a research note on Wednesday, February 25th. Citigroup reaffirmed a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of Trex in a research note on Monday, May 11th. Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group reaffirmed a “buy” rating and issued a $59.00 price target (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.42.

Trex Trading Up 5.5%

NYSE TREX opened at $44.37 on Wednesday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The company has a market capitalization of $4.61 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 8.52 and a beta of 1.51. The firm’s fifty day simple moving average is $39.65 and its 200-day simple moving average is $38.92.

Trex (NYSE:TREX) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. During the same period in the prior year, the business posted $0.60 earnings per share. Trex’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Trex Company, Inc. will post 1.68 EPS for the current year.

Trex Company 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.