First Trust Advisors LP Invests $321,000 in Trex Company, Inc. (NYSE:TREX)

First Trust Advisors LP acquired a new stake in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,656 shares of the construction company’s stock, valued at approximately $321,000.

Several other hedge funds have also added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its stake in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the period. Wasatch Advisors LP raised its position in Trex by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock worth $317,505,000 after acquiring an additional 523,113 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Trex by 0.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after purchasing an additional 17,405 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Trex during the 4th quarter worth approximately $110,414,000. Finally, Dimensional Fund Advisors LP raised its stake in Trex by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,553 shares of the construction company’s stock valued at $106,349,000 after acquiring an additional 36,848 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TREX shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. UBS Group decreased their target price on Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday. DA Davidson reissued a “neutral” rating and set a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Truist Financial decreased their price objective on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.06.

Trex Stock Down 0.9 %

Shares of TREX stock opened at $57.79 on Friday. The business’s fifty day moving average is $56.96 and its 200 day moving average is $65.78. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $92.02.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Equities research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

About Trex

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.