Trex Company, Inc. $TREX Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Trex Company, Inc. (NYSE:TREX) by 90.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,469,878 shares of the construction company’s stock after buying an additional 698,628 shares during the quarter. Federated Hermes Inc. owned approximately 1.37% of Trex worth $75,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Trex by 91.3% in the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after purchasing an additional 392,715 shares during the period. Truist Financial Corp increased its stake in shares of Trex by 67.9% in the second quarter. Truist Financial Corp now owns 9,613 shares of the construction company’s stock valued at $523,000 after purchasing an additional 3,887 shares during the period. Hilltop National Bank bought a new stake in shares of Trex during the second quarter valued at approximately $116,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Trex during the second quarter worth approximately $15,060,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In related news, CFO Prithvi Gandhi purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at $978,794.88. This trade represents a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on TREX shares. Jefferies Financial Group upgraded Trex from a “hold” rating to a “buy” rating and raised their target price for the company from $39.00 to $42.00 in a research report on Monday, December 15th. Vertical Research cut shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a research note on Wednesday, November 5th. BMO Capital Markets restated an “outperform” rating and set a $54.00 price target on shares of Trex in a research report on Thursday, January 8th. Wolfe Research upgraded shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a report on Wednesday, January 7th. Finally, Citigroup dropped their target price on Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.25.

Trex Price Performance

NYSE TREX opened at $41.95 on Thursday. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $74.68. The company has a market capitalization of $4.50 billion, a P/E ratio of 22.80 and a beta of 1.55. The company’s 50 day simple moving average is $37.13 and its 200 day simple moving average is $48.64.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.06). Trex had a return on equity of 21.90% and a net margin of 16.76%.The business had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.