Oppenheimer Asset Management Inc. Cuts Stake in Trex Company, Inc. $TREX

Oppenheimer Asset Management Inc. trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 49.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,905 shares of the construction company’s stock after selling 31,909 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trex were worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position 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 last quarter. Benjamin Edwards Inc. grew its position in Trex by 1.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock valued at $611,000 after purchasing an additional 214 shares during the last quarter. Park Avenue Securities LLC grew its position in Trex by 3.0% during the 3rd quarter. Park Avenue Securities LLC now owns 8,692 shares of the construction company’s stock valued at $449,000 after purchasing an additional 253 shares during the last quarter. Hsbc Holdings PLC grew its position 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 last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Trex by 0.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company’s stock valued at $2,359,000 after purchasing an additional 333 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

TREX opened at $37.58 on Wednesday. The stock has a market capitalization of $3.90 billion, a P/E ratio of 21.23, a P/E/G ratio of 8.39 and a beta of 1.51. The company’s 50-day simple moving average is $38.91 and its two-hundred day simple moving average is $39.24. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $68.78.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The firm had revenue of $161.13 million for the quarter, compared to analysts’ expectations of $144.39 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts forecast that Trex Company, Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $54.00 price objective on shares of Trex in a research report on Thursday, January 8th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $53.00 in a research note on Wednesday, February 25th. Wolfe Research upgraded shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Wednesday, January 7th. Robert W. Baird set a $48.00 target price on shares of Trex in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Trex in a research note on Friday, March 27th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Trex 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.