AustralianSuper Pty Ltd Acquires Shares of 1,599,508 Trex Company, Inc. (NYSE:TREX)

AustralianSuper Pty Ltd acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,599,508 shares of the construction company’s stock, valued at approximately $110,414,000. AustralianSuper Pty Ltd owned approximately 1.49% of Trex at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 148 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Trex by 8.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after purchasing an additional 184 shares during the last quarter. Mather Group LLC. increased its position in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after purchasing an additional 191 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after purchasing an additional 202 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Trex by 6.8% during the 4th quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company’s stock valued at $231,000 after purchasing an additional 213 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. DA Davidson lifted their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Robert W. Baird lifted their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $79.81.

Trex Trading Down 0.8 %

Shares of TREX opened at $67.25 on Friday. The company has a market cap of $7.20 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The stock has a 50-day moving average price of $71.44 and a 200-day moving average price of $69.24. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91.

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.