Kornitzer Capital Management Inc. KS Has $450,000 Stake in Trex Company, Inc. (NYSE:TREX)

Kornitzer Capital Management Inc. KS reduced its stake in Trex Company, Inc. (NYSE:TREX) by 94.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,522 shares of the construction company’s stock after selling 110,132 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trex were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. L & S Advisors Inc bought a new position in Trex in the 3rd quarter worth about $1,000,000. Algert Global LLC grew its position in Trex by 81.3% during the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after acquiring an additional 38,700 shares during the last quarter. Curi RMB Capital LLC grew its position in Trex by 27.2% during the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock worth $4,537,000 after acquiring an additional 14,558 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Trex by 237.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after buying an additional 37,362 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in shares of Trex by 287.1% during the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock valued at $1,119,000 after purchasing an additional 12,468 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TREX shares. Robert W. Baird lifted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. DA Davidson upped their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays cut their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Citigroup cut their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and an average price target of $79.81.

Trex Price Performance

NYSE:TREX opened at $66.42 on Thursday. The firm has a market capitalization of $7.12 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.51. The business’s fifty day moving average price is $70.75 and its 200 day moving average price is $68.85. 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.