Trex Company, Inc. $TREX Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Trex Company, Inc. (NYSE:TREX) by 4.4% in the third quarter, Holdings Channel reports. The institutional investor owned 402,345 shares of the construction company’s stock after acquiring an additional 17,044 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Trex were worth $20,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. WCM Investment Management LLC boosted its position in Trex by 734.5% during the third quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock valued at $2,033,000 after purchasing an additional 34,825 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Trex in the 3rd quarter worth about $3,614,000. Advantage Alpha Capital Partners LP raised its stake in shares of Trex by 169.2% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock worth $4,079,000 after purchasing an additional 47,143 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Trex during the 2nd quarter worth about $3,015,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Trex by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock valued at $46,859,000 after buying an additional 66,721 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research reports. Bank of America restated an “underperform” rating and issued a $36.00 price objective (down previously from $67.00) on shares of Trex in a report on Wednesday, November 5th. William Blair downgraded shares of Trex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Robert W. Baird set a $48.00 price target on shares of Trex in a report on Monday, January 12th. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Citigroup lowered their target price on shares of Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and an average target price of $47.25.

Trex Stock Up 0.4%

Shares of NYSE:TREX opened at $42.84 on Friday. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 23.28 and a beta of 1.58. The business has a 50 day moving average price of $39.33 and a 200 day moving average price of $46.96. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $70.08.

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.