Thrivent Financial for Lutherans Grows Stake in Trex Company, Inc. $TREX

Thrivent Financial for Lutherans increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 906,892 shares of the construction company’s stock after purchasing an additional 66,721 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.85% of Trex worth $46,859,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after buying an additional 164 shares during the last quarter. AQR Capital Management LLC boosted its stake in Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after acquiring an additional 177 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Trex by 4.1% during the second quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock worth $259,000 after purchasing an additional 189 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Trex by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the construction company’s stock worth $1,642,000 after purchasing an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Trex by 0.8% during the second quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock worth $1,404,000 after purchasing an additional 200 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research reports. B. Riley restated a “buy” rating and set a $57.00 price target (down previously from $80.00) on shares of Trex in a research note on Wednesday, November 5th. William Blair lowered shares of Trex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Benchmark cut their target price on shares of Trex from $80.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Barclays set a $32.00 price target on shares of Trex in a research note on Monday, December 8th. Finally, The Goldman Sachs Group set a $54.00 price objective on shares of Trex and gave the company a “buy” rating in a research note on Tuesday, December 16th. Ten 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. Based on data from MarketBeat, Trex has an average rating of “Hold” and an average target price of $47.25.

Trex Stock Up 0.2%

NYSE:TREX opened at $41.52 on Tuesday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $73.58. The company has a market cap of $4.45 billion, a P/E ratio of 22.56 and a beta of 1.58. The business has a 50 day moving average price of $37.76 and a two-hundred day moving average price of $48.12.

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 analyst estimates of $301.74 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other news, CFO Prithvi Gandhi purchased 15,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the purchase, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. The trade was a 95.76% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.

Trex Company Profile

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.