Thrivent Financial for Lutherans Purchases 66,721 Shares of Trex Company, Inc. $TREX

Thrivent Financial for Lutherans boosted its position in Trex Company, Inc. (NYSE:TREX) by 7.9% during the third quarter, HoldingsChannel.com reports. The fund owned 906,892 shares of the construction company’s stock after buying an additional 66,721 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trex were worth $46,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Trex during the 3rd quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Trex during the second quarter worth about $60,000. CWM LLC lifted its holdings in shares of Trex by 16.8% in the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after acquiring an additional 164 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Trex by 10,133.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock valued at $67,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Trex by 21.0% during the 2nd quarter. Blue Trust Inc. now owns 1,377 shares of the construction company’s stock worth $75,000 after purchasing an additional 239 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research cut shares of Trex from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. DA Davidson upgraded Trex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research report on Monday, January 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $54.00 target price on shares of Trex in a research report on Thursday, January 8th. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, Citigroup lowered their price objective on Trex from $52.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus price target of $47.25.

Trex Trading Up 0.2%

Shares of Trex stock opened at $41.52 on Tuesday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $73.58. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 22.56 and a beta of 1.58. The business’s 50 day simple moving average is $37.76 and its 200-day simple moving average is $48.12.

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

Insider Transactions at Trex

In related news, CFO Prithvi Gandhi acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the purchase, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.

Trex Company Profile

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.