Price T Rowe Associates Inc. MD Increases Holdings in Trex Company, Inc. (NYSE:TREX)

Price T Rowe Associates Inc. MD raised its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 463.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,134,849 shares of the construction company's stock after acquiring an additional 2,578,734 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.93% of Trex worth $216,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company's stock valued at $53,098,000 after purchasing an additional 393,850 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Trex in the fourth quarter valued at about $247,000. Pictet Asset Management Holding SA increased its holdings in shares of Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after purchasing an additional 969 shares during the period. SG Americas Securities LLC increased its holdings in shares of Trex by 298.5% in the fourth quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company's stock valued at $424,000 after purchasing an additional 4,597 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in shares of Trex by 26.6% in the fourth quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock valued at $514,000 after purchasing an additional 1,566 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research reports. Truist Financial cut their price objective on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Citigroup cut their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Finally, UBS Group dropped their target price on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Trex presently has a consensus rating of "Hold" and an average price target of $77.18.

Trex Stock Down 0.4 %

Shares of NYSE TREX traded down $0.24 during midday trading on Monday, hitting $57.50. The stock had a trading volume of 1,126,095 shares, compared to its average volume of 1,323,345. The company has a market capitalization of $6.17 billion, a PE ratio of 26.26, a P/E/G ratio of 2.51 and a beta of 1.62. The stock has a 50 day simple moving average of $57.49 and a 200-day simple moving average of $66.16. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $94.00.

Trex (NYSE:TREX - Get Free Report) last released its earnings results 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 the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.