Madison Asset Management LLC Grows Position in Trex Company, Inc. $TREX

Madison Asset Management LLC grew its position in Trex Company, Inc. (NYSE:TREX) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,893,081 shares of the construction company’s stock after acquiring an additional 22,027 shares during the quarter. Madison Asset Management LLC owned about 1.77% of Trex worth $97,815,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in Trex by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,137,918 shares of the construction company’s stock worth $116,260,000 after purchasing an additional 165,793 shares during the period. Geneva Capital Management LLC grew its holdings in shares of Trex by 7.6% during the second quarter. Geneva Capital Management LLC now owns 1,722,606 shares of the construction company’s stock worth $93,675,000 after buying an additional 121,722 shares during the last quarter. Federated Hermes Inc. increased its position in Trex by 90.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock valued at $75,949,000 after acquiring an additional 698,628 shares during the period. Bank of America Corp DE raised its stake in Trex by 93.1% during the 2nd quarter. Bank of America Corp DE now owns 1,299,381 shares of the construction company’s stock valued at $70,660,000 after acquiring an additional 626,452 shares during the last quarter. Finally, Norges Bank purchased a new stake in Trex during the 2nd quarter valued at approximately $54,795,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

Shares of NYSE:TREX opened at $44.44 on Wednesday. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $71.01. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 24.15 and a beta of 1.58. The business’s 50 day simple moving average is $38.81 and its 200-day simple moving average is $47.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird set a $48.00 target price on Trex in a report on Monday, January 12th. Wall Street Zen downgraded shares of Trex from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. BMO Capital Markets reiterated an “outperform” rating and set a $54.00 price target on shares of Trex in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered Trex from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Trex in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus target price of $47.25.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi purchased 15,000 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the transaction, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. This represents a 95.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.74% of the company’s stock.

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.