Trex Company, Inc. $TREX Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in Trex Company, Inc. (NYSE:TREX) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 402,345 shares of the construction company’s stock after purchasing an additional 17,044 shares during the period. Envestnet Asset Management Inc. owned 0.38% of Trex worth $20,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TREX. CWM LLC lifted its holdings in Trex by 16.8% during the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after buying an additional 164 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Trex by 3.2% during the 1st 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 raised its position in shares of Trex by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock valued at $259,000 after acquiring an additional 189 shares in the last quarter. State of Michigan Retirement System lifted its stake in 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 during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Trex by 1.9% in the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group set a $54.00 target price on shares of Trex and gave the stock a “buy” rating in a report on Tuesday, December 16th. B. Riley Financial reaffirmed a “buy” rating and set a $57.00 price objective (down previously from $80.00) on shares of Trex in a research report on Wednesday, November 5th. Robert W. Baird set a $48.00 target price on shares of Trex in a report on Monday, January 12th. BMO Capital Markets restated an “outperform” rating and issued a $54.00 target price on shares of Trex in a research note on Thursday, January 8th. Finally, Citigroup lowered their target price on Trex from $52.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.25.

Trex Trading Up 0.4%

Shares of NYSE:TREX opened at $42.84 on Friday. The company has a 50 day moving average of $39.33 and a 200-day moving average of $46.96. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $70.08. The firm has a market cap of $4.59 billion, a P/E ratio of 23.28 and a beta of 1.58.

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.