Victory Capital Management Inc. Has $17.25 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. raised its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,373 shares of the construction company's stock after buying an additional 9,795 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of Trex worth $17,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. Shell Asset Management Co. increased its stake in Trex by 0.5% in the third quarter. Shell Asset Management Co. now owns 35,605 shares of the construction company's stock valued at $2,194,000 after purchasing an additional 163 shares during the period. Martin Capital Advisors LLP increased its stake in shares of Trex by 0.7% during the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company's stock worth $2,130,000 after acquiring an additional 168 shares during the period. Fifth Third Bancorp grew its position in Trex by 13.2% during the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company's stock worth $129,000 after buying an additional 181 shares during the period. Inspire Investing LLC increased its holdings in Trex by 4.2% in the third quarter. Inspire Investing LLC now owns 4,960 shares of the construction company's stock valued at $306,000 after buying an additional 201 shares in the last quarter. Finally, Mitchell Capital Management Co. increased its holdings in Trex by 0.4% in the third quarter. Mitchell Capital Management Co. now owns 64,386 shares of the construction company's stock valued at $3,968,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Price Performance

NYSE:TREX traded down $6.03 during trading hours on Friday, reaching $87.38. 2,470,051 shares of the company were exchanged, compared to its average volume of 597,314. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.09 and a beta of 1.60. Trex Company, Inc. has a 52-week low of $51.03 and a 52-week high of $101.91. The stock has a 50 day simple moving average of $93.66 and a 200 day simple moving average of $83.10.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.10. The company had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 36.99%. Trex's revenue was up 56.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. On average, analysts predict that Trex Company, Inc. will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TREX shares. UBS Group increased their target price on shares of Trex from $84.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. DA Davidson increased their target price on shares of Trex from $80.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. Truist Financial increased their price target on shares of Trex from $70.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. The Goldman Sachs Group increased their price target on shares of Trex from $89.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus increased their price target on shares of Trex from $90.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $89.47.

About Trex

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.