Voya Investment Management LLC Acquires 108,142 Shares of Trex Company, Inc. (NYSE:TREX)

Voya Investment Management LLC grew its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 51.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,351 shares of the construction company's stock after acquiring an additional 108,142 shares during the period. Voya Investment Management LLC owned 0.30% of Trex worth $22,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. raised its stake in shares of Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after purchasing an additional 143 shares in the last quarter. Principal Securities Inc. lifted its stake in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock valued at $213,000 after purchasing an additional 147 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after purchasing an additional 148 shares during the period. Harrington Investments INC increased its position in Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after buying an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of recent analyst reports. Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Truist Financial decreased their price objective on shares of 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 target price on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, UBS Group cut their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.18.

Insider Buying and Selling

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 shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Trex Stock Down 2.3 %

TREX stock opened at $57.75 on Friday. The company has a market cap of $6.19 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $94.00. The business has a 50-day simple moving average of $57.67 and a 200 day simple moving average of $66.19.

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

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