Atlantic Union Bankshares Corp Trims Holdings in Trex Company Inc (NYSE:TREX)

Atlantic Union Bankshares Corp trimmed its position in Trex Company Inc (NYSE:TREX) by 30.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940 shares of the construction company’s stock after selling 1,310 shares during the period. Atlantic Union Bankshares Corp’s holdings in Trex were worth $264,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TREX. Bamco Inc. NY lifted its holdings in Trex by 38.5% in the 2nd quarter. Bamco Inc. NY now owns 2,733,942 shares of the construction company’s stock valued at $196,024,000 after purchasing an additional 760,669 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Trex by 252.2% in the 2nd quarter. Victory Capital Management Inc. now owns 793,919 shares of the construction company’s stock valued at $56,925,000 after purchasing an additional 568,530 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Trex by 94.1% in the 2nd quarter. Macquarie Group Ltd. now owns 921,042 shares of the construction company’s stock valued at $66,039,000 after purchasing an additional 446,444 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in Trex by 3,641.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 455,308 shares of the construction company’s stock valued at $32,646,000 after purchasing an additional 443,139 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Trex by 1,377.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 342,288 shares of the construction company’s stock valued at $24,543,000 after purchasing an additional 319,122 shares in the last quarter.

TREX has been the topic of a number of recent research reports. DA Davidson restated a “positive” rating and issued a $102.00 target price on shares of Trex in a report on Tuesday, October 29th. BNP Paribas initiated coverage on shares of Trex in a report on Wednesday, October 9th. They issued an “underperform” rating on the stock. ValuEngine downgraded shares of Trex from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. SunTrust Banks upped their price objective on shares of Trex from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. They noted that the move was a valuation call. Finally, Exane BNP Paribas initiated coverage on shares of Trex in a research note on Wednesday, October 9th. They set an “underperform” rating for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $92.22.

In related news, insider Adam Dante Zambanini sold 4,344 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $84.20, for a total transaction of $365,764.80. Following the completion of the sale, the insider now owns 88,229 shares of the company’s stock, valued at approximately $7,428,881.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Bryan Horix Fairbanks sold 11,435 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.92, for a total transaction of $959,625.20. Following the sale, the chief financial officer now directly owns 46,318 shares of the company’s stock, valued at approximately $3,887,006.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,571 shares of company stock valued at $1,558,410. Corporate insiders own 0.93% of the company’s stock.

NYSE TREX opened at $95.87 on Wednesday. Trex Company Inc has a 12 month low of $57.55 and a 12 month high of $99.64. The company has a 50-day moving average of $89.21 and a 200-day moving average of $84.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.02. The company has a market cap of $5.66 billion, a P/E ratio of 40.80, a P/E/G ratio of 3.30 and a beta of 1.89.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Trex had a net margin of 18.65% and a return on equity of 35.80%. The company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $208.12 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex Company Inc will post 2.4 EPS for the current year.

Trex Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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