Alliancebernstein L.P. Increases Stake in Trex Company, Inc. (NYSE:TREX)

Alliancebernstein L.P. raised its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 54.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,819,326 shares of the construction company's stock after purchasing an additional 3,818,025 shares during the period. Alliancebernstein L.P. owned approximately 10.10% of Trex worth $746,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Trex during the third quarter worth $30,000. Mather Group LLC. lifted its position in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Trex in the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC raised its stake in Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.

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Trex Stock Performance

NYSE:TREX traded up $0.02 during trading hours on Friday, reaching $55.40. The stock had a trading volume of 1,598,554 shares, compared to its average volume of 1,622,881. The stock has a market cap of $5.94 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The stock has a 50 day simple moving average of $63.35 and a 200 day simple moving average of $67.74. Trex Company, Inc. has a 12-month low of $50.35 and a 12-month high of $97.69.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analysts' expectations of $160.54 million. On average, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the subject of several recent research reports. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of Trex in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Trex in a report on Tuesday. They issued a "buy" rating and a $85.00 price objective for the company. UBS Group reduced their price target on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Citigroup decreased their price target on Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Jefferies Financial Group reduced their target price on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.00.

Trex Profile

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.