Mirova Has $1.70 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Mirova boosted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 280.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,687 shares of the construction company's stock after acquiring an additional 18,198 shares during the quarter. Mirova's holdings in Trex were worth $1,704,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Trex in the fourth quarter valued at about $110,414,000. Norges Bank acquired a new stake in shares of Trex during the 4th quarter worth about $54,084,000. Wasatch Advisors LP boosted its holdings in shares of Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after buying an additional 523,113 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Trex by 97.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company's stock valued at $53,098,000 after buying an additional 393,850 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated 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 owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TREX shares. JPMorgan Chase & Co. reduced their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Citigroup reduced their price target on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. DA Davidson reiterated a "neutral" rating and set a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Barclays reduced their target price on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial lowered their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Trex currently has a consensus rating of "Hold" and an average target price of $77.18.

Trex Stock Up 2.7 %

Shares of TREX stock traded up $1.48 during trading hours on Wednesday, reaching $56.70. The company's stock had a trading volume of 1,531,329 shares, compared to its average volume of 1,316,496. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00. The firm's 50 day simple moving average is $58.02 and its 200-day simple moving average is $66.27. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

About Trex

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.