Allianz Asset Management GmbH Cuts Stock Position in Trex Company, Inc. $TREX

Allianz Asset Management GmbH cut its stake in shares of Trex Company, Inc. (NYSE:TREX) by 21.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,578 shares of the construction company’s stock after selling 19,433 shares during the quarter. Allianz Asset Management GmbH owned 0.07% of Trex worth $3,750,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of 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 buying an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Trex by 91.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after acquiring an additional 392,715 shares during the last quarter. Truist Financial Corp increased 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 valued at $523,000 after acquiring an additional 3,887 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Trex by 6.3% in the second quarter. KLP Kapitalforvaltning AS now owns 22,100 shares of the construction company’s stock valued at $1,202,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Callan Family Office LLC grew its position in shares of Trex by 60.7% in the second quarter. Callan Family Office LLC now owns 6,166 shares of the construction company’s stock valued at $335,000 after purchasing an additional 2,329 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Trading Up 1.5%

Shares of NYSE TREX opened at $44.44 on Wednesday. The company has a market cap of $4.77 billion, a P/E ratio of 24.15 and a beta of 1.58. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $71.01. The stock has a fifty day moving average price of $38.81 and a 200 day moving average price of $47.19.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TREX. BMO Capital Markets reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Trex in a research note on Thursday, January 8th. Vertical Research downgraded Trex from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, November 5th. JPMorgan Chase & Co. decreased their price objective on Trex from $71.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Robert W. Baird set a $48.00 target price on shares of Trex in a research note on Monday, January 12th. Finally, The Goldman Sachs Group set a $54.00 price target on shares of Trex and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus price target of $47.25.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $31.92 per share, with a total value of $478,800.00. Following the purchase, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at approximately $978,794.88. This represents a 95.76% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.