Trex Company, Inc. $TREX Holdings Trimmed by Erste Asset Management GmbH

Erste Asset Management GmbH lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 78.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,010 shares of the construction company’s stock after selling 174,741 shares during the quarter. Erste Asset Management GmbH’s holdings in Trex were worth $1,705,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TREX. Norges Bank purchased a new stake in shares of Trex during the fourth quarter valued at $62,904,000. AQR Capital Management LLC lifted its holdings in shares of Trex by 17,551.6% during the third quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock valued at $81,498,000 after purchasing an additional 1,588,948 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Trex by 93.0% during the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after purchasing an additional 932,247 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trex by 86.8% during the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock valued at $102,002,000 after purchasing an additional 917,448 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Trex by 93.1% during the second quarter. Bank of America Corp DE now owns 1,299,381 shares of the construction company’s stock valued at $70,660,000 after purchasing an additional 626,452 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Down 3.3%

Shares of Trex stock opened at $42.94 on Thursday. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78. The stock has a 50-day moving average price of $39.80 and a 200 day moving average price of $39.01. The company has a market cap of $4.46 billion, a P/E ratio of 23.99, a P/E/G ratio of 9.00 and a beta of 1.51.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company had revenue of $343.40 million for the quarter, compared to analyst estimates of $339.99 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Trex Company, Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TREX has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Trex from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, May 11th. Barclays reaffirmed an “underweight” rating and set a $36.00 target price (up from $35.00) on shares of Trex in a report on Monday, May 11th. UBS Group reissued a “buy” rating and issued a $59.00 price objective (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $53.00 in a research note on Wednesday, February 25th. Finally, Weiss Ratings raised Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.42.

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.