Gamco Investors INC. ET AL Makes New $5.07 Million Investment in Trex Company, Inc. $TREX

Gamco Investors INC. ET AL bought a new stake in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, HoldingsChannel reports. The fund bought 144,490 shares of the construction company’s stock, valued at approximately $5,069,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its holdings in shares of Trex by 1.9% in the third quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock valued at $389,795,000 after acquiring an additional 142,215 shares during the period. American Century Companies Inc. increased its holdings in shares of Trex by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock valued at $113,233,000 after acquiring an additional 53,554 shares during the period. Wellington Management Group LLP raised its position in Trex by 86.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock valued at $102,002,000 after purchasing an additional 917,448 shares during the last quarter. Impax Asset Management Group plc boosted its stake in Trex by 93.0% during the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after purchasing an additional 932,247 shares during the period. Finally, Madison Asset Management LLC boosted its stake in Trex by 1.2% during the 3rd quarter. Madison Asset Management LLC now owns 1,893,081 shares of the construction company’s stock worth $97,815,000 after purchasing an additional 22,027 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the topic of a number of recent research reports. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. UBS Group reissued a “buy” rating and set a $59.00 price target (up from $58.00) on shares of Trex in a report on Friday, May 8th. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $53.00 in a research note on Wednesday, February 25th. Finally, Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.42.

Trex Price Performance

NYSE TREX opened at $36.22 on Wednesday. The business has a 50 day moving average price of $38.55 and a 200 day moving average price of $38.44. The company has a market capitalization of $3.76 billion, a P/E ratio of 20.23, a PEG ratio of 7.74 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.Trex’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. On average, research analysts expect that Trex Company, Inc. will post 1.68 earnings per share for the current fiscal year.

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.