Blair William & Co. IL Sells 94,053 Shares of Trex Company, Inc. $TREX

Blair William & Co. IL cut its holdings in Trex Company, Inc. (NYSE:TREX) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 473,146 shares of the construction company’s stock after selling 94,053 shares during the quarter. Blair William & Co. IL’s holdings in Trex were worth $24,447,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Trex during the 2nd quarter worth about $54,795,000. 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 worth $99,354,000 after acquiring an additional 932,247 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Trex by 90.6% during the third 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 in the last quarter. Bank of America Corp DE lifted its position in shares of Trex by 93.1% during the second quarter. Bank of America Corp DE now owns 1,299,381 shares of the construction company’s stock worth $70,660,000 after purchasing an additional 626,452 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after purchasing an additional 392,715 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Down 2.9%

Shares of TREX stock opened at $37.63 on Friday. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $68.78. The firm has a fifty day moving average of $41.08 and a 200-day moving average of $44.49. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 8.63 and a beta of 1.58.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $161.13 million for the quarter, compared to the consensus estimate of $144.39 million. Trex had a return on equity of 20.29% and a net margin of 16.22%.The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Wednesday, January 7th. DA Davidson upgraded Trex from a “neutral” rating to a “buy” rating and increased their price objective for the company from $45.00 to $50.00 in a research report on Monday, January 12th. Citigroup lifted their target price on Trex from $39.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. UBS Group boosted their target price on Trex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Robert W. Baird set a $48.00 price target on Trex in a research note on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $47.73.

Trex 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.