Shell Asset Management Co. Reduces Position in Trex Company, Inc. $TREX

Shell Asset Management Co. decreased its holdings in Trex Company, Inc. (NYSE:TREX) by 96.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 774 shares of the construction company’s stock after selling 22,101 shares during the period. Shell Asset Management Co.’s holdings in Trex were worth $40,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TREX. American Century Companies Inc. raised its position in shares of Trex by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,137,918 shares of the construction company’s stock valued at $116,260,000 after buying an additional 165,793 shares during the period. Impax Asset Management Group plc raised its stake in shares of Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after acquiring an additional 932,247 shares in the last quarter. Madison Asset Management LLC raised its position in Trex by 1.2% in the 3rd quarter. Madison Asset Management LLC now owns 1,893,081 shares of the construction company’s stock valued at $97,815,000 after purchasing an additional 22,027 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Trex by 7.6% in the second quarter. Geneva Capital Management LLC now owns 1,722,606 shares of the construction company’s stock worth $93,675,000 after acquiring an additional 121,722 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after purchasing an additional 698,628 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

TREX opened at $41.71 on Monday. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78. The business has a 50-day moving average of $40.05 and a two-hundred day moving average of $45.92. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.67 and a beta of 1.58.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TREX shares. William Blair cut Trex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Wolfe Research upgraded shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Wednesday, January 7th. B. Riley Financial reaffirmed a “buy” rating and issued a $57.00 price objective (down previously from $80.00) on shares of Trex in a report on Wednesday, November 5th. Finally, Truist Financial lowered their price target on shares of Trex from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.25.

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.