Allspring Global Investments Holdings LLC Has $8.70 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 87.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,103 shares of the construction company's stock after selling 729,638 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Trex worth $8,701,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its position in Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company's stock valued at $25,000 after purchasing an additional 245 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Trex during the 3rd quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new stake in shares of Trex during the 4th quarter valued at approximately $28,000. Headinvest LLC acquired a new stake in shares of Trex during the 3rd quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Trex during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Trex from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Truist Financial raised their price objective on shares of Trex from $70.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Barclays raised their price objective on shares of Trex from $86.00 to $93.00 and gave the stock an "underweight" rating in a research note on Thursday, April 4th. Stifel Nicolaus raised their price objective on shares of Trex from $90.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Finally, DA Davidson raised their price objective on shares of Trex from $80.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Trex currently has a consensus rating of "Hold" and a consensus target price of $88.72.

Trex Trading Up 0.2 %

TREX stock traded up $0.19 during trading on Thursday, reaching $87.96. The stock had a trading volume of 765,988 shares, compared to its average volume of 796,801. Trex Company, Inc. has a 1-year low of $51.03 and a 1-year high of $101.91. The company has a market capitalization of $9.55 billion, a P/E ratio of 46.54, a PEG ratio of 2.05 and a beta of 1.60. The firm has a fifty day moving average price of $94.25 and a 200 day moving average price of $79.32.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The firm had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Trex Company, Inc. will post 2.21 EPS for the current year.

Trex Company 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.