Trex Company, Inc. $TREX Stock Acquired by Royce & Associates LP

Royce & Associates LP raised its position in shares of Trex Company, Inc. (NYSE:TREX) by 45.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078,705 shares of the construction company’s stock after purchasing an additional 337,592 shares during the period. Royce & Associates LP’s holdings in Trex were worth $46,988,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Trex during the second quarter worth $525,081,000. Wellington Management Group LLP increased its stake in shares of Trex by 18.2% in the 2nd quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company’s stock valued at $494,251,000 after purchasing an additional 1,518,338 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Trex in the 2nd quarter valued at $94,851,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Trex in the 3rd quarter valued at $32,858,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Trex during the 2nd quarter worth $36,197,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trex news, CEO Adam Zambanini sold 500 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $55.84, for a total value of $27,920.00. Following the completion of the transaction, the chief executive officer directly owned 235,505 shares in the company, valued at approximately $13,150,599.20. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,969 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $59.07, for a total value of $116,308.83. Following the completion of the transaction, the senior vice president owned 37,462 shares of the company’s stock, valued at $2,212,880.34. This represents a 4.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,700 shares of company stock valued at $215,467 in the last 90 days. Corporate insiders own 0.93% of the company’s stock.

Trex Stock Down 0.1%

Shares of NYSE:TREX traded down $0.07 during trading on Friday, hitting $52.74. 1,669,115 shares of the company were exchanged, compared to its average volume of 2,562,692. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $60.21. The company has a market capitalization of $5.27 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 2.82 and a beta of 1.46. The business’s 50 day moving average is $47.33 and its 200-day moving average is $43.73.

Trex (NYSE:TREX) last announced its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Trex had a return on equity of 18.27% and a net margin of 13.89%. The company had revenue of $359.50 million during the quarter, compared to analysts’ expectations of $314.86 million. During the same period in the prior year, the company earned $0.51 EPS. Trex’s revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TREX. Stifel Nicolaus set a $55.00 price target on Trex and gave the stock a “buy” rating in a report on Monday, October 19th. Truist Financial raised their price objective on Trex from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. BMO Capital Markets set a $57.00 target price on Trex in a research report on Wednesday, August 5th. Zacks Research cut Trex from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Stephens boosted their target price on Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.18.

About Trex

Trex Company, Inc. manufactures wood-alternative decking, railing and other outdoor-living products. Its composite decking is made primarily from reclaimed wood and recycled plastic, offering an alternative to traditional wood materials. The company’s products include composite deck boards and railing systems, along with accessories such as outdoor lighting and drainage products. Trex sells through a network of distributors, dealers and retailers, serving customers primarily in North America as well as international markets.