Bank of Hawaii Takes Position in Trex Company, Inc. (NYSE:TREX)

Bank of Hawaii purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,805 shares of the construction company’s stock, valued at approximately $677,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after buying an additional 393,850 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Trex during the 4th quarter worth approximately $247,000. SG Americas Securities LLC lifted its position in Trex by 298.5% during the 4th quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company’s stock worth $424,000 after acquiring an additional 4,597 shares during the period. Park Avenue Securities LLC lifted its position in Trex by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock worth $514,000 after acquiring an additional 1,566 shares during the period. Finally, Stephens Inc. AR lifted its position in Trex by 10.6% during the 4th quarter. Stephens Inc. AR now owns 6,294 shares of the construction company’s stock worth $434,000 after acquiring an additional 601 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 13.6 %

NYSE:TREX opened at $57.41 on Thursday. The business’s 50 day moving average is $61.03 and its two-hundred day moving average is $67.12. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $94.00. The company has a market cap of $6.16 billion, a PE ratio of 26.21, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. DA Davidson reissued a “neutral” rating and issued a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Finally, Citigroup reduced their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Trex currently has an average rating of “Hold” and an average target price of $78.24.

Insider Transactions at Trex

In related 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 sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.