Bamco Inc. NY raised its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,153,133 shares of the construction company's stock after acquiring an additional 126,441 shares during the quarter. Bamco Inc. NY owned approximately 2.01% of Trex worth $148,631,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock valued at $216,400,000 after acquiring an additional 2,578,734 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Trex in the fourth quarter worth $110,414,000. Anomaly Capital Management LP lifted its stake in Trex by 228.2% in the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock valued at $104,427,000 after acquiring an additional 1,051,888 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Trex in the 4th quarter valued at $54,084,000. Institutional investors and hedge funds own 95.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on TREX shares. UBS Group lowered their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Benchmark reiterated a "buy" rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, March 3rd. Truist Financial cut their price objective on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Citigroup lowered their target price on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Trex presently has a consensus rating of "Hold" and a consensus target price of $77.18.
Get Our Latest Research Report on TREX
Insider Activity at Trex
In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.71% of the company's stock.
Trex Stock Performance
Shares of NYSE TREX traded down $1.57 during midday trading on Wednesday, reaching $56.50. 1,747,317 shares of the company traded hands, compared to its average volume of 1,341,333. The firm has a market cap of $6.06 billion, a PE ratio of 25.80, a PEG ratio of 2.51 and a beta of 1.62. The stock's 50-day simple moving average is $57.00 and its 200-day simple moving average is $65.83. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $93.96.
Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $167.63 million for the quarter, compared to analysts' expectations of $160.54 million. On average, equities research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.
About Trex
(
Free Report)
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.
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