Wasatch Advisors LP Grows Stock Position in Trex Company, Inc. (NYSE:TREX)

Wasatch Advisors LP raised its holdings in Trex Company, Inc. (NYSE:TREX) by 12.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,599,521 shares of the construction company’s stock after acquiring an additional 523,113 shares during the period. Trex makes up approximately 1.6% of Wasatch Advisors LP’s portfolio, making the stock its 13th biggest position. Wasatch Advisors LP’s holdings in Trex were worth $317,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter worth approximately $30,000. Mather Group LLC. raised its stake in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its stake in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank boosted its holdings in shares of Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after purchasing an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Trex during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Trading Down 1.0 %

Shares of Trex stock opened at $54.72 on Wednesday. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $94.00. The business’s 50 day simple moving average is $59.65 and its 200-day simple moving average is $66.77.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share 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 firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

TREX has been the topic of a number of research analyst reports. Bank of America reduced their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Barclays decreased their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.18.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value 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 $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Trex Profile

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.