Trex Company, Inc. $TREX Position Trimmed by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 21.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 72,578 shares of the construction company’s stock after selling 19,433 shares during the quarter. Allianz Asset Management GmbH’s holdings in Trex were worth $3,750,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TREX shares. Truist Financial lowered their price objective on shares of Trex from $75.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Stifel Nicolaus reissued a “hold” rating and issued a $35.00 price target (down previously from $61.00) on shares of Trex in a research note on Monday, November 10th. B. Riley Financial reiterated a “buy” rating and issued a $57.00 price objective (down from $80.00) on shares of Trex in a report on Wednesday, November 5th. UBS Group set a $52.00 price target on Trex and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, DA Davidson upgraded shares of Trex from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $50.00 in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $47.25.

Insider Transactions at Trex

In related news, CFO Prithvi Gandhi bought 15,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought 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 approximately $978,794.88. The trade was a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.74% of the stock is currently owned by company insiders.

Trex Price Performance

Trex stock opened at $44.44 on Wednesday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 24.15 and a beta of 1.58. The stock has a fifty day moving average price of $38.81 and a two-hundred day moving average price of $47.19. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $71.01.

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.