CIBC World Markets Inc. Cuts Position in Trex Company Inc (TREX)

CIBC World Markets Inc. reduced its stake in Trex Company Inc (NYSE:TREX) by 14.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,804 shares of the construction company’s stock after selling 832 shares during the quarter. CIBC World Markets Inc.’s holdings in Trex were worth $370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James & Associates increased its stake in Trex by 120.0% in the 2nd quarter. Raymond James & Associates now owns 51,213 shares of the construction company’s stock valued at $3,205,000 after buying an additional 27,935 shares during the last quarter. Cim LLC increased its stake in Trex by 63.8% in the 3rd quarter. Cim LLC now owns 20,490 shares of the construction company’s stock valued at $1,577,000 after buying an additional 7,979 shares during the last quarter. Swiss National Bank increased its stake in Trex by 100.0% in the 2nd quarter. Swiss National Bank now owns 102,600 shares of the construction company’s stock valued at $6,422,000 after buying an additional 51,300 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Trex by 100.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,038 shares of the construction company’s stock valued at $4,258,000 after buying an additional 34,138 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in Trex by 99.1% in the 2nd quarter. New York State Teachers Retirement System now owns 42,466 shares of the construction company’s stock valued at $2,658,000 after buying an additional 21,133 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

TREX has been the topic of several recent research reports. Sidoti upgraded shares of Trex from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, SunTrust Banks lowered their price target on shares of Trex to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Trex presently has an average rating of “Hold” and an average price target of $36.35.

Trex stock opened at $62.71 on Friday. The stock has a market cap of $3.61 billion, a PE ratio of 39.69 and a beta of 2.27. Trex Company Inc has a fifty-two week low of $50.72 and a fifty-two week high of $90.74.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $166.38 million for the quarter, compared to analyst estimates of $173.10 million. Trex had a net margin of 19.16% and a return on equity of 46.55%. Trex’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. Research analysts predict that Trex Company Inc will post 2.29 earnings per share for the current fiscal year.

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Trex Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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