Trex Company, Inc. $TREX Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 93.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,934,581 shares of the construction company’s stock after acquiring an additional 932,247 shares during the period. Impax Asset Management Group plc’s holdings in Trex were worth $99,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. WCM Investment Management LLC grew its holdings in Trex by 734.5% during the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock worth $2,033,000 after acquiring an additional 34,825 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Trex during the third quarter worth about $3,614,000. Campbell & CO Investment Adviser LLC acquired a new position in Trex in the second quarter worth about $3,015,000. Advantage Alpha Capital Partners LP increased its holdings in Trex by 169.2% in the second quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock valued at $4,079,000 after buying an additional 47,143 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Trex by 7.9% during the third quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock valued at $46,859,000 after buying an additional 66,721 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi purchased 15,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of $31.92 per share, with a total value of $478,800.00. Following the purchase, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. This trade represents a 95.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TREX. Benchmark decreased their target price on Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $54.00 target price on shares of Trex and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wolfe Research raised shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Wednesday, January 7th. Stifel Nicolaus restated a “hold” rating and issued a $35.00 target price (down from $61.00) on shares of Trex in a research note on Monday, November 10th. Finally, Robert W. Baird set a $48.00 price target on Trex in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.25.

Trex Trading Up 1.5%

Shares of NYSE:TREX opened at $44.44 on Wednesday. The company has a 50 day moving average of $38.81 and a 200-day moving average of $47.19. The firm has a market cap of $4.77 billion, a P/E ratio of 24.15 and a beta of 1.58. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $71.01.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.