132,528 Shares in Trex Company, Inc. $TREX Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC bought a new position in Trex, acquiring 132,528 shares (about $4.75M) in Q4 and held 0.12% of the company; institutional investors own roughly 95.96% of the stock.
• Trex beat expectations for the quarter with $0.04 EPS (vs. ($0.01) expected) and $161.13M revenue (vs. $144.39M expected) despite revenue declining 3.9% YoY; the stock trades near $35.39, has a $3.68B market cap and an average analyst rating of Hold with a $47.78 target.

Allspring Global Investments Holdings LLC bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 132,528 shares of the construction company's stock, valued at approximately $4,748,000. Allspring Global Investments Holdings LLC owned 0.12% of Trex at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company's stock valued at $320,000 after acquiring an additional 177 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Trex by 1.9% during the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company's stock worth $611,000 after acquiring an additional 214 shares in the last quarter. Park Avenue Securities LLC raised its stake in Trex by 3.0% during the third quarter. Park Avenue Securities LLC now owns 8,692 shares of the construction company's stock worth $449,000 after acquiring an additional 253 shares in the last quarter. Hsbc Holdings PLC raised its stake in Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company's stock worth $294,000 after acquiring an additional 322 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Trex by 0.7% during the third quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company's stock worth $2,359,000 after acquiring an additional 333 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of TREX stock opened at $35.39 on Wednesday. The stock's fifty day moving average is $39.60 and its 200-day moving average is $40.66. The stock has a market capitalization of $3.68 billion, a PE ratio of 19.99, a PEG ratio of 8.18 and a beta of 1.61. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $161.13 million for the quarter, compared to analysts' expectations of $144.39 million. Trex had a return on equity of 20.29% and a net margin of 16.22%.The business's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TREX. BMO Capital Markets reiterated an "outperform" rating and set a $54.00 price objective on shares of Trex in a research note on Thursday, January 8th. DA Davidson boosted their price target on shares of Trex from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Robert W. Baird set a $48.00 price target on shares of Trex in a research report on Monday, January 12th. The Goldman Sachs Group set a $54.00 price target on shares of Trex and gave the company a "buy" rating in a research report on Tuesday, December 16th. Finally, Citigroup boosted their price target on shares of Trex from $39.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $47.78.

Trex Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.