Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Trex Company, Inc. (NYSE:TREX – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 754,311 shares of the construction company’s stock, valued at approximately $32,858,000.
A number of other institutional investors also recently made changes to their positions in TREX. Versant Capital Management Inc purchased a new position in shares of Trex during the 2nd quarter valued at approximately $58,000. Ascentis Independent Advisors acquired a new stake in shares of Trex during the first quarter worth approximately $44,000. Elevation Wealth Partners LLC grew its position in shares of Trex by 250.7% during the third quarter. Elevation Wealth Partners LLC now owns 1,224 shares of the construction company’s stock worth $53,000 after buying an additional 875 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Trex by 104.7% during the third quarter. GAMMA Investing LLC now owns 1,269 shares of the construction company’s stock worth $55,000 after buying an additional 649 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Trex by 76.0% in the second quarter. IFP Advisors Inc now owns 1,584 shares of the construction company’s stock worth $79,000 after buying an additional 684 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. UBS Group reiterated a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $57.00 in a report on Thursday, October 8th. Stifel Nicolaus set a $49.00 target price on shares of Trex and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $50.19.
Read Our Latest Report on Trex
Insider Buying and Selling
In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the transaction, the senior vice president owned 67,794 shares of the company’s stock, valued at $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.93% of the stock is currently owned by corporate insiders.
Trex Stock Up 4.2%
Shares of NYSE TREX opened at $46.23 on Friday. The stock’s 50 day moving average price is $45.45 and its two-hundred day moving average price is $43.60. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $52.63. The stock has a market capitalization of $4.80 billion, a P/E ratio of 25.21, a PEG ratio of 2.59 and a beta of 1.48.
Trex (NYSE:TREX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The firm had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current year.
Trex Profile
Trex Company, Inc designs, manufactures and distributes composite decking, railing and related outdoor-living products. Its portfolio includes residential and commercial decking systems, railing, outdoor lighting, furniture, and other accessories sold under the Trex brand. The company’s products are positioned as alternatives to traditional wood and are designed to provide durability and lower maintenance.
Trex composite products are made primarily from reclaimed wood fibers and recycled polyethylene film, including materials such as used plastic bags and packaging.
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