Principal Financial Group Inc. Acquires 57,873 Shares of Trex Company, Inc. (NYSE:TREX)

Principal Financial Group Inc. boosted its holdings in Trex Company, Inc. (NYSE:TREXGet Rating) by 14.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 449,585 shares of the construction company’s stock after acquiring an additional 57,873 shares during the quarter. Principal Financial Group Inc. owned 0.40% of Trex worth $24,466,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of Trex by 30.4% during the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the construction company’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Trex by 6.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,498 shares of the construction company’s stock worth $191,000 after buying an additional 218 shares in the last quarter. Covestor Ltd lifted its position in shares of Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after buying an additional 245 shares in the last quarter. Trillium Asset Management LLC lifted its position in shares of Trex by 1.0% during the 2nd quarter. Trillium Asset Management LLC now owns 24,546 shares of the construction company’s stock worth $1,337,000 after buying an additional 249 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Trex by 1.1% during the 2nd quarter. Xponance Inc. now owns 24,777 shares of the construction company’s stock worth $1,348,000 after buying an additional 263 shares in the last quarter. Institutional investors own 98.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on TREX shares. StockNews.com started coverage on shares of Trex in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Benchmark lowered their price target on shares of Trex to $60.00 in a report on Friday, November 4th. BMO Capital Markets lowered their price target on shares of Trex from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 2nd. Stifel Nicolaus lowered their price target on shares of Trex from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 1st. Finally, Credit Suisse Group cut shares of Trex from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $65.00 to $43.00 in a report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average price target of $67.17.

Trex Stock Up 0.8 %

Trex stock opened at $44.81 on Friday. The company has a market capitalization of $4.92 billion, a PE ratio of 25.46, a P/E/G ratio of 9.20 and a beta of 1.47. The firm has a fifty day simple moving average of $46.30 and a two-hundred day simple moving average of $53.43. Trex Company, Inc. has a twelve month low of $38.68 and a twelve month high of $140.98.

About Trex

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Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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