Trex Company, Inc. $TREX Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in Trex Company, Inc. (NYSE:TREX) by 177.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,461 shares of the construction company’s stock after acquiring an additional 17,573 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Trex were worth $1,445,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Trex during the second quarter valued at approximately $54,795,000. Bank of America Corp DE grew its position in shares of Trex by 93.1% during the second quarter. Bank of America Corp DE now owns 1,299,381 shares of the construction company’s stock worth $70,660,000 after buying an additional 626,452 shares in 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 worth $47,803,000 after buying an additional 392,715 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Trex by 127.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 628,708 shares of the construction company’s stock worth $32,485,000 after buying an additional 351,765 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Trex by 15,488.1% in the second quarter. Cubist Systematic Strategies LLC now owns 264,997 shares of the construction company’s stock valued at $14,411,000 after acquiring an additional 263,297 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Trex from $52.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. Zelman & Associates lowered Trex from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Trex in a report on Thursday, January 8th. Truist Financial decreased their target price on Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Trex in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $47.25.

Insider Buying and Selling at Trex

In related news, CFO Prithvi Gandhi bought 15,000 shares of Trex stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the transaction, the chief financial officer owned 30,664 shares of the company’s stock, valued at approximately $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Trex Price Performance

TREX stock opened at $41.43 on Friday. The business has a fifty day moving average price of $37.57 and a 200 day moving average price of $48.36. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $74.68. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 22.52 and a beta of 1.55.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, November 4th. The construction company reported $0.51 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 for the quarter, compared to the consensus estimate of $301.74 million. During the same quarter in the previous year, the company posted $0.37 EPS. Trex’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal 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.