Alliancebernstein L.P. Has $746.86 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Alliancebernstein L.P. raised its position in Trex Company, Inc. (NYSE:TREX) by 54.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,819,326 shares of the construction company’s stock after buying an additional 3,818,025 shares during the period. Alliancebernstein L.P. owned 10.10% of Trex worth $746,858,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TREX. State Street Corp boosted its holdings in shares of Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock valued at $135,834,000 after purchasing an additional 17,405 shares during the last quarter. Geode Capital Management LLC boosted its stake in Trex by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Trex during the fourth quarter worth $110,414,000. Finally, FMR LLC increased its stake in shares of Trex by 6.0% in the third quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock valued at $84,085,000 after buying an additional 71,761 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

TREX has been the topic of several research reports. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group lowered their price target 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. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.63.

Trex Price Performance

Trex stock opened at $57.38 on Monday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.51 and a beta of 1.60. The company’s 50 day simple moving average is $64.54 and its 200 day simple moving average is $67.97. Trex Company, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $99.86.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $167.63 million for 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%. As a group, analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction 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 of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.

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.