Federated Hermes Inc. Sells 34,535 Shares of Trex Company, Inc. (NYSE:TREX)

Federated Hermes Inc. cut its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 611,181 shares of the construction company's stock after selling 34,535 shares during the period. Federated Hermes Inc. owned 0.56% of Trex worth $50,600,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Trex by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,331 shares of the construction company's stock worth $2,097,000 after buying an additional 1,837 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Trex during the 4th quarter worth about $2,525,000. WCM Investment Management LLC boosted its holdings in shares of Trex by 9.4% during the 4th quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company's stock worth $21,027,000 after buying an additional 21,486 shares during the period. Cerity Partners LLC boosted its holdings in shares of Trex by 14.8% during the 4th quarter. Cerity Partners LLC now owns 395,143 shares of the construction company's stock worth $32,714,000 after buying an additional 51,079 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Trex by 0.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,886,128 shares of the construction company's stock worth $156,153,000 after buying an additional 13,545 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TREX has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Trex from $84.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 27th. Stifel Nicolaus boosted their price objective on shares of Trex from $90.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Benchmark boosted their price objective on shares of Trex from $85.00 to $105.00 and gave the company a "buy" rating in a report on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Trex from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Finally, Truist Financial boosted their price objective on shares of Trex from $70.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trex has a consensus rating of "Hold" and a consensus price target of $88.72.

Trex Price Performance

TREX stock traded down $0.50 during trading on Friday, reaching $87.45. 532,379 shares of the company were exchanged, compared to its average volume of 589,412. The company has a 50-day moving average of $94.18 and a two-hundred day moving average of $79.65. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 46.27, a P/E/G ratio of 2.02 and a beta of 1.60. Trex Company, Inc. has a twelve month low of $51.03 and a twelve month high of $101.91.

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