Granite Investment Partners LLC Has $8.62 Million Holdings in Trex Company, Inc. $TREX

Granite Investment Partners LLC raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 240.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,809 shares of the construction company’s stock after acquiring an additional 117,764 shares during the quarter. Granite Investment Partners LLC’s holdings in Trex were worth $8,619,000 at the end of the most recent quarter.

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

Trex Stock Performance

Shares of TREX stock opened at $41.71 on Monday. The stock’s 50 day simple moving average is $40.05 and its 200 day simple moving average is $45.92. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.67 and a beta of 1.58.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group set a $54.00 price objective on Trex and gave the company a “buy” rating in a research report on Tuesday, December 16th. Zelman & Associates lowered Trex from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 5th. Bank of America restated an “underperform” rating and issued a $36.00 price objective (down previously from $67.00) on shares of Trex in a report on Wednesday, November 5th. Wall Street Zen cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.25.

Trex Profile

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.