Envestnet Asset Management Inc. Grows Position in Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. grew its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,247 shares of the construction company's stock after purchasing an additional 25,540 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Trex worth $22,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Trex during the third quarter valued at $30,000. Mather Group LLC. grew its position in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC increased its position in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after purchasing an additional 473 shares in the last quarter. Huntington National Bank lifted its stake in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Trex during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company's stock.

Trex Stock Performance

Shares of TREX traded up $2.23 during mid-day trading on Friday, hitting $55.65. 1,699,428 shares of the company's stock were exchanged, compared to its average volume of 1,307,587. The stock's 50-day moving average is $59.02 and its 200-day moving average is $66.60. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

TREX has been the subject of a number of recent research reports. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Thursday. Barclays cut their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $77.18.

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.