Trex Company, Inc. (NYSE:TREX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 611,181 shares of the construction company’s stock after selling 34,535 shares during the quarter. Federated Hermes Inc. owned approximately 0.56% of Trex worth $50,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in Trex during the 4th quarter worth approximately $28,000. Covestor Ltd boosted its holdings in Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares during the period. Loomis Sayles & Co. L P bought a new stake in Trex during the third quarter valued at $27,000. Headinvest LLC acquired a new stake in shares of Trex during the third quarter worth $29,000. Finally, Quarry LP acquired a new stake in shares of Trex during the first quarter worth $31,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 0.6 %

Shares of TREX stock opened at $87.45 on Friday. The stock has a 50-day simple moving average of $94.18 and a 200 day simple moving average of $79.50. The stock has a market capitalization of $9.50 billion, a P/E ratio of 46.27, a P/E/G ratio of 2.02 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company had revenue of $195.75 million during the quarter, compared to the consensus estimate of $193.40 million. During the same period in the prior year, the company earned $0.23 EPS. Trex’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TREX shares. Stifel Nicolaus boosted their price objective on shares of Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Truist Financial raised their target price on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Robert W. Baird boosted their price target on shares of Trex from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group increased their price objective on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.72.

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.