Azzad Asset Management Inc. ADV Sells 15,078 Shares of Trex Company, Inc. $TREX

Azzad Asset Management Inc. ADV trimmed its holdings in Trex Company, Inc. (NYSE:TREX) by 39.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,311 shares of the construction company’s stock after selling 15,078 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Trex were worth $1,204,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Trex by 91.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after purchasing an additional 392,715 shares during the last quarter. Truist Financial Corp lifted its holdings in Trex by 67.9% during the 2nd quarter. Truist Financial Corp now owns 9,613 shares of the construction company’s stock worth $523,000 after buying an additional 3,887 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in Trex by 6.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 22,100 shares of the construction company’s stock valued at $1,202,000 after buying an additional 1,300 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Trex by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the construction company’s stock valued at $1,642,000 after buying an additional 200 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of NYSE:TREX opened at $44.08 on Monday. The company has a 50 day moving average price of $38.45 and a two-hundred day moving average price of $47.52. The company has a market capitalization of $4.73 billion, a PE ratio of 23.96 and a beta of 1.58. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $73.49.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent research reports. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Barclays set a $32.00 target price on shares of Trex in a research note on Monday, December 8th. William Blair downgraded shares of Trex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $35.00 price objective (down from $61.00) on shares of Trex in a research note on Monday, November 10th. Finally, The Goldman Sachs Group set a $54.00 target price on shares of Trex and gave the company a “buy” rating in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.25.

Insider Transactions at Trex

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

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.