Impax Asset Management Group plc Has $62.58 Million Stock Holdings in Trex Company, Inc. $TREX

Key Points

• Impax Asset Management reduced its Trex stake by 7.8% in Q4 and now owns 1,783,815 shares worth about $62.58 million, representing roughly 1.66% of the company.
• Analyst sentiment is mixed with a consensus Hold rating, an average price target of $47.88, and a split of 10 Buy / 10 Hold / 3 Sell ratings.
• Trex's Q4 results beat estimates (EPS $0.04 vs. -$0.01; revenue $161.13M vs. $144.39M) despite a 3.9% YoY revenue decline, and the stock trades near $41.90 with a $4.35B market cap and a 52-week range of $29.77–$68.78.

Impax Asset Management Group plc decreased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,783,815 shares of the construction company's stock after selling 150,766 shares during the period. Impax Asset Management Group plc owned about 1.66% of Trex worth $62,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Trex by 734.5% during the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company's stock worth $2,033,000 after buying an additional 34,825 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Trex during the 3rd quarter valued at approximately $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 purchasing an additional 66,721 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company's stock valued at $75,949,000 after purchasing an additional 698,628 shares during the last quarter. Finally, Pembroke Management LTD grew its holdings in shares of Trex by 11.5% during the 3rd quarter. Pembroke Management LTD now owns 476,311 shares of the construction company's stock valued at $24,611,000 after purchasing an additional 49,073 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

TREX has been the subject of several research reports. Bank of America dropped their target price on Trex from $43.00 to $42.00 and set an "underperform" rating for the company in a research report on Monday, April 20th. Loop Capital raised shares of Trex from a "hold" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $53.00 in a report on Wednesday, February 25th. Wolfe Research raised shares of Trex from a "peer perform" rating to an "outperform" rating and set a $47.00 price target for the company in a research note on Wednesday, January 7th. Barclays cut their price target on shares of Trex from $39.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 8th. Finally, Stifel Nicolaus set a $37.50 price objective on shares of Trex and gave the stock a "hold" rating in a research note on Monday, February 23rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $47.88.

Trex Stock Performance

NYSE:TREX opened at $41.90 on Friday. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78. The firm's fifty day moving average is $39.12 and its 200-day moving average is $39.85. The firm has a market cap of $4.35 billion, a P/E ratio of 23.67, a P/E/G ratio of 9.70 and a beta of 1.61.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. Trex had a return on equity of 20.29% and a net margin of 16.22%.The firm's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 1.63 earnings per share for the current year.

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.

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