Federated Hermes Inc. Purchases 347,526 Shares of Trex Company, Inc. (NYSE:TREX)

Federated Hermes Inc. increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 38.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,250,017 shares of the construction company’s stock after purchasing an additional 347,526 shares during the period. Federated Hermes Inc.’s holdings in Trex were worth $86,289,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new position in Trex during the third quarter worth about $30,000. Mather Group LLC. lifted its position in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC boosted its stake 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 buying an additional 473 shares in the last quarter. Huntington National Bank raised its stake in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Trex during the fourth quarter valued at $41,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Down 0.8 %

Shares of NYSE TREX opened at $54.96 on Monday. Trex Company, Inc. has a twelve month low of $50.35 and a twelve month high of $97.69. The company’s fifty day moving average is $62.97 and its 200-day moving average is $67.65. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TREX shares. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average target price of $79.00.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were 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 owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

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.