DAVENPORT & Co LLC Grows Stake in Trex Company, Inc. (NYSE:TREX)

DAVENPORT & Co LLC grew its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 397,733 shares of the construction company's stock after purchasing an additional 58,280 shares during the period. DAVENPORT & Co LLC owned approximately 0.37% of Trex worth $27,534,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock valued at $1,102,000 after buying an additional 148 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after purchasing an additional 184 shares during the period. Ballentine Partners LLC raised its stake in shares of Trex by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company's stock worth $231,000 after purchasing an additional 213 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Trex by 33.4% during the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after purchasing an additional 218 shares during the period. Finally, American Trust boosted its position in Trex by 7.9% in the third quarter. American Trust now owns 3,367 shares of the construction company's stock valued at $224,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Stock Performance

NYSE TREX opened at $72.80 on Monday. The stock's fifty day moving average is $72.59 and its two-hundred day moving average is $69.83. The firm has a market capitalization of $7.80 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 3.05 and a beta of 1.50. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91.

Wall Street Analyst Weigh In

Several analysts have commented on TREX shares. DA Davidson lifted their price objective on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a report on Tuesday, October 29th. Citigroup dropped their target price on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Robert W. Baird boosted their price target on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.81.

Trex Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.