Polen Capital Management LLC Increases Stake in Trex Company, Inc. (NYSE:TREX)

Polen Capital Management LLC increased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 984.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,268 shares of the construction company's stock after purchasing an additional 51,079 shares during the quarter. Polen Capital Management LLC owned approximately 0.05% of Trex worth $3,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TREX. Wilmington Savings Fund Society FSB purchased a new position in Trex during the third quarter worth about $30,000. Mather Group LLC. boosted its holdings in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in 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 during the last quarter. Eagle Bay Advisors LLC purchased a new position in Trex in the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC boosted its stake in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after acquiring an additional 202 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company's stock.

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Analyst Upgrades and Downgrades

TREX has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Bank of America dropped their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Finally, DA Davidson reiterated a "neutral" rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $78.63.

Trex Stock Performance

Trex stock traded up $0.85 during midday trading on Thursday, reaching $59.88. 2,739,481 shares of the stock were exchanged, compared to its average volume of 1,164,144. The company's fifty day moving average is $65.70 and its 200-day moving average is $68.03. The firm has a market cap of $6.42 billion, a PE ratio of 27.34, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52 week low of $52.75 and a 52 week high of $100.77.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 20.23% and a return on equity of 28.89%. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.