Bank of Hawaii Invests $677,000 in Trex Company, Inc. (NYSE:TREX)

Bank of Hawaii acquired a new position in Trex Company, Inc. (NYSE:TREX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 9,805 shares of the construction company’s stock, valued at approximately $677,000.

Several other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the period. AustralianSuper Pty Ltd bought a new position in Trex during the fourth quarter valued at about $110,414,000. Norges Bank purchased a new stake in Trex during the fourth quarter valued at about $54,084,000. JPMorgan Chase & Co. boosted its position in shares of Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after acquiring an additional 393,850 shares during the period. Finally, Federated Hermes Inc. lifted its position in Trex by 38.5% during the fourth quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company’s stock valued at $86,289,000 after purchasing an additional 347,526 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TREX has been the topic of several research reports. Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research note on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average price target of $78.24.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by insiders.

Trex Stock Performance

Trex stock opened at $57.41 on Thursday. The stock has a fifty day moving average of $61.03 and a two-hundred day moving average of $67.12. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. On average, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

About Trex

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.