Wasatch Advisors LP Has $317.51 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Wasatch Advisors LP boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,599,521 shares of the construction company's stock after purchasing an additional 523,113 shares during the period. Trex comprises 1.6% of Wasatch Advisors LP's portfolio, making the stock its 13th biggest holding. Wasatch Advisors LP owned about 4.29% of Trex worth $317,505,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after buying an additional 3,818,025 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Trex during the 4th quarter worth about $110,414,000. Norges Bank bought a new position in Trex during the 4th quarter valued at about $54,084,000. JPMorgan Chase & Co. boosted its position in Trex by 97.6% in the third 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 in the last quarter. Finally, Federated Hermes Inc. grew its stake in Trex by 38.5% during the fourth quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company's stock worth $86,289,000 after buying an additional 347,526 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price on the stock. Finally, Barclays reduced their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.18.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the 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 sale, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.

Trex Stock Performance

Shares of Trex stock traded up $2.23 on Friday, reaching $55.65. 1,699,428 shares of the stock were exchanged, compared to its average volume of 1,307,587. The firm's 50 day moving average is $59.02 and its 200-day moving average is $66.60. The firm has a market cap of $5.97 billion, a PE ratio of 25.41, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a one year low of $49.01 and a one year high of $94.00.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping 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 research analysts expect 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.