Federated Hermes Inc. Has $86.29 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Federated Hermes Inc. increased its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 38.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,250,017 shares of the construction company's stock after buying an additional 347,526 shares during the period. Federated Hermes Inc. owned about 1.17% of Trex worth $86,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in Trex in the 3rd quarter valued at about $30,000. Mather Group LLC. raised its holdings in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares during the last quarter. Huntington National Bank lifted its stake in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing 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. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business's 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 completion of the transaction, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their target price on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. UBS Group dropped their price target on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. DA Davidson restated a "neutral" rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Finally, Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Trex presently has a consensus rating of "Hold" and a consensus price target of $77.18.

Trex Trading Up 0.0 %

TREX stock traded up $0.02 during midday trading on Friday, hitting $54.96. The stock had a trading volume of 2,135,919 shares, compared to its average volume of 1,288,281. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $94.00. The stock has a 50-day simple moving average of $60.36 and a 200 day simple moving average of $66.94. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $160.54 million. On average, equities analysts forecast that Trex Company, Inc. will post 2.04 EPS 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.