Federated Hermes Inc. Sells 144,677 Shares of Trex Company, Inc. $TREX

Federated Hermes Inc. trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,250 shares of the construction company’s stock after selling 144,677 shares during the quarter. Federated Hermes Inc. owned approximately 0.72% of Trex worth $41,941,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Red Spruce Capital LLC boosted its holdings in shares of Trex by 276.5% during the 2nd quarter. Red Spruce Capital LLC now owns 56,973 shares of the construction company’s stock valued at $3,098,000 after acquiring an additional 41,841 shares in the last quarter. Voya Investment Management LLC increased its holdings in Trex by 24.0% in the 1st quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock worth $23,003,000 after purchasing an additional 76,562 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Trex in the second quarter valued at about $3,015,000. Advantage Alpha Capital Partners LP raised its position in Trex by 169.2% in the second quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock valued at $4,079,000 after purchasing an additional 47,143 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in shares of Trex by 23.7% during the second quarter. Pembroke Management LTD now owns 427,238 shares of the construction company’s stock valued at $23,233,000 after purchasing an additional 81,970 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TREX shares. JPMorgan Chase & Co. lowered their price objective on Trex from $71.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Vertical Research lowered shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, November 5th. Truist Financial decreased their price target on shares of Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 price target (down previously from $61.00) on shares of Trex in a report on Monday, November 10th. Finally, UBS Group reduced their price objective on shares of Trex from $74.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.37.

Insiders Place Their Bets

In other Trex news, CFO Prithvi Gandhi purchased 15,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $31.92 per share, with a total value of $478,800.00. Following the completion of the purchase, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. This represents a 95.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.74% of the company’s stock.

Trex Stock Down 0.5%

Shares of NYSE TREX opened at $34.34 on Tuesday. The company has a market capitalization of $3.68 billion, a PE ratio of 18.67 and a beta of 1.58. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $80.74. The firm has a fifty day simple moving average of $42.23 and a 200 day simple moving average of $53.37.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Trex had a return on equity of 21.90% and a net margin of 16.76%.The business had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Trex 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.