Trex Company, Inc. $TREX Stock: Royce & Associates LP Raises Holdings

Royce & Associates LP grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 45.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,078,705 shares of the construction company’s stock after acquiring an additional 337,592 shares during the period. Royce & Associates LP owned 1.04% of Trex worth $46,988,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TREX. IFG Advisory LLC increased its stake in shares of Trex by 8.5% during the third quarter. IFG Advisory LLC now owns 18,762 shares of the construction company’s stock worth $817,000 after purchasing an additional 1,463 shares during the period. Russell Investments Group Ltd. boosted its stake in Trex by 6.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 225,021 shares of the construction company’s stock valued at $9,803,000 after purchasing an additional 12,853 shares during the period. Jefferies Financial Group Inc. bought a new stake in Trex in the 3rd quarter valued at $6,810,000. AlphaCore Capital LLC boosted its stake in Trex by 95.1% in the 3rd quarter. AlphaCore Capital LLC now owns 8,732 shares of the construction company’s stock valued at $380,000 after purchasing an additional 4,257 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Trex by 10.3% in the 3rd quarter. Parallel Advisors LLC now owns 4,103 shares of the construction company’s stock valued at $179,000 after buying an additional 382 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays upped their price objective on Trex from $42.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, November 5th. Deutsche Bank raised Trex from a “hold” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $57.00 in a report on Thursday, October 8th. BMO Capital Markets set a $57.00 target price on shares of Trex in a research report on Wednesday, August 5th. Bank of America upgraded shares of Trex from an “underperform” rating to a “buy” rating and upped their price target for the company from $46.00 to $65.00 in a research note on Thursday, November 5th. Finally, Truist Financial upped their price target on shares of Trex from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Moderate Buy” and an average target price of $55.18.

Trex Trading Down 0.1%

NYSE TREX traded down $0.07 during midday trading on Friday, hitting $52.74. The company had a trading volume of 1,669,115 shares, compared to its average volume of 2,562,692. The company has a market capitalization of $5.27 billion, a PE ratio of 30.66, a P/E/G ratio of 2.82 and a beta of 1.46. The firm has a 50-day moving average price of $47.33 and a 200-day moving average price of $43.73. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $60.21.

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

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,969 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $59.07, for a total transaction of $116,308.83. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $27,920.00. Following the sale, the chief executive officer owned 235,505 shares in the company, valued at $13,150,599.20. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,700 shares of company stock valued at $215,467 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Trex Company Profile

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.