Fisher Asset Management LLC Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

Fisher Asset Management LLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 83.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,519 shares of the construction company’s stock after purchasing an additional 99,223 shares during the period. Fisher Asset Management LLC’s holdings in Trex were worth $15,084,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex during the third quarter valued at about $30,000. Mather Group LLC. increased its position in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC increased its position in shares of Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after acquiring an additional 202 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TREX has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.38.

Trex Stock Down 3.6 %

NYSE TREX opened at $59.49 on Tuesday. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $100.77. The stock has a market capitalization of $6.37 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The firm has a 50 day moving average of $68.96 and a two-hundred day moving average of $68.76.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company 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 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’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 sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

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.