London Co. of Virginia Sells 163,882 Shares of Trex Company, Inc. $TREX

London Co. of Virginia decreased its position in Trex Company, Inc. (NYSE:TREX) by 39.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 252,509 shares of the construction company’s stock after selling 163,882 shares during the quarter. London Co. of Virginia owned approximately 0.24% of Trex worth $8,858,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TREX. Alliancebernstein L.P. raised its stake in shares of Trex by 1.9% in the third quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock worth $389,795,000 after buying an additional 142,215 shares during the period. Morgan Stanley raised its stake in shares of Trex by 44.6% in the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock worth $81,150,000 after buying an additional 713,054 shares during the period. American Century Companies Inc. raised its stake in shares of Trex by 2.5% in the third quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock worth $113,233,000 after buying an additional 53,554 shares during the period. Wellington Management Group LLP raised its stake in shares of Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after buying an additional 917,448 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Trex by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock worth $67,132,000 after buying an additional 24,892 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Trex in a research note on Friday, June 5th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $53.00 in a research note on Wednesday, February 25th. Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, May 18th. Weiss Ratings raised Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and issued a $59.00 price objective (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.42.

Trex Price Performance

NYSE TREX opened at $46.93 on Wednesday. The stock has a market capitalization of $4.88 billion, a PE ratio of 26.22, a P/E/G ratio of 9.40 and a beta of 1.51. The business has a 50 day simple moving average of $40.63 and a two-hundred day simple moving average of $39.38. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.