Trex Company, Inc. $TREX Stock Holdings Lessened by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC decreased its holdings in Trex Company, Inc. by 32.5%, selling 103,622 shares and retaining approximately 0.20% ownership, valued at $12.5 million.
• Several large investors, including Mercer Global Advisors and Deutsche Bank AG, have recently increased their stakes in Trex, indicating a trend of growing institutional interest in the company.
• The stock's target prices have been modified by various analysts, with Stephens lowering it to $65.00, while Robert W. Baird upgraded it to $75.00, showing mixed sentiments among market analysts.

Fred Alger Management LLC reduced its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,079 shares of the construction company's stock after selling 103,622 shares during the quarter. Fred Alger Management LLC owned approximately 0.20% of Trex worth $12,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TREX. Price T Rowe Associates Inc. MD increased its holdings in Trex by 132.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company's stock valued at $424,007,000 after buying an additional 4,163,014 shares during the last quarter. Madison Asset Management LLC bought a new stake in Trex in the first quarter valued at about $109,852,000. Point72 Asset Management L.P. increased its holdings in Trex by 87.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,916,134 shares of the construction company's stock valued at $132,271,000 after buying an additional 893,675 shares during the last quarter. American Century Companies Inc. increased its holdings in Trex by 66.1% in the first quarter. American Century Companies Inc. now owns 1,972,125 shares of the construction company's stock valued at $114,580,000 after buying an additional 784,820 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Trex during the 1st quarter valued at about $39,646,000. 95.96% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total value of $98,708.84. Following the completion of the transaction, the senior vice president directly owned 22,953 shares in the company, valued at $1,473,123.54. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating and set a $74.00 price objective (up previously from $72.00) on shares of Trex in a research report on Tuesday, August 5th. Loop Capital reaffirmed a "hold" rating and set a $66.00 price objective on shares of Trex in a research report on Tuesday, August 5th. Baird R W raised shares of Trex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. DA Davidson set a $65.00 price objective on shares of Trex and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.93.

Trex Price Performance

Shares of NYSE TREX traded down $1.78 during midday trading on Friday, hitting $60.49. 908,637 shares of the company's stock were exchanged, compared to its average volume of 1,600,827. The stock's 50 day moving average price is $62.86 and its 200-day moving average price is $59.11. The firm has a market cap of $6.49 billion, a P/E ratio of 34.97, a PEG ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $387.80 million during the quarter, compared to the consensus estimate of $377.49 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The business's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Trex has set its Q3 2025 guidance at EPS. On average, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Trex Profile

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.