Price T Rowe Associates Inc. MD Has $216.40 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Price T Rowe Associates Inc. MD grew its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 463.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,134,849 shares of the construction company's stock after purchasing an additional 2,578,734 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.93% of Trex worth $216,400,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at approximately $30,000. Mather Group LLC. raised its stake in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank grew its position in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Trex during the fourth quarter valued at about $41,000. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TREX shares. BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Barclays reduced their target price on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research note on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective for the company. Finally, Bank of America decreased their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $77.18.

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company's stock.

Trex Stock Up 0.7 %

TREX stock traded up $0.38 during trading on Thursday, hitting $58.20. The company had a trading volume of 257,340 shares, compared to its average volume of 1,325,027. The firm has a 50-day moving average price of $57.30 and a 200-day moving average price of $66.05. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Equities analysts expect that Trex Company, Inc. will post 2.04 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.