Trex Company, Inc. $TREX Shares Sold by PineStone Asset Management Inc.

PineStone Asset Management Inc. cut its position in Trex Company, Inc. (NYSE:TREX) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,169 shares of the construction company’s stock after selling 16,600 shares during the quarter. PineStone Asset Management Inc. owned 0.21% of Trex worth $7,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TREX. AQR Capital Management LLC lifted its holdings in Trex by 17,551.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock worth $81,498,000 after buying an additional 1,588,948 shares in the last quarter. Norges Bank acquired a new stake in shares of Trex during the second quarter valued at about $54,795,000. Impax Asset Management Group plc increased its position 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 worth $99,354,000 after acquiring an additional 932,247 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after acquiring an additional 917,448 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Trex by 90.6% in the third quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after acquiring an additional 698,628 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 2.9%

Shares of Trex stock opened at $36.42 on Wednesday. The business has a 50-day moving average price of $40.29 and a 200 day moving average price of $41.37. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78. The firm has a market cap of $3.78 billion, a P/E ratio of 20.58, a P/E/G ratio of 8.14 and a beta of 1.58.

Trex (NYSE:TREX) last released its earnings results on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The company had revenue of $161.13 million for the quarter, compared to the consensus estimate of $144.39 million. During the same quarter last year, the business posted $0.09 EPS. Trex’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Benchmark lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Zacks Research raised Trex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Loop Capital upgraded Trex from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $53.00 in a research note on Wednesday, February 25th. DA Davidson raised their price target on shares of Trex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Robert W. Baird set a $48.00 price target on shares of Trex in a research note on Monday, January 12th. Ten 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.78.

Trex 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.