Trex Company, Inc. (NYSE:TREX) Shares Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its position in Trex Company, Inc. (NYSE:TREX) by 58.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,903 shares of the construction company’s stock after purchasing an additional 3,291 shares during the quarter. CreativeOne Wealth LLC’s holdings in Trex were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after acquiring an additional 435,055 shares during the period. Renaissance Technologies LLC acquired a new stake in Trex in the second quarter worth about $19,475,000. Impax Asset Management Group plc grew its position in Trex by 44.2% in the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock valued at $54,753,000 after buying an additional 252,262 shares in the last quarter. Federated Hermes Inc. increased its stake in Trex by 39.1% during the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock valued at $57,375,000 after buying an additional 217,767 shares during the period. Finally, Achmea Investment Management B.V. acquired a new position in Trex during the 2nd quarter valued at about $15,635,000. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

Shares of TREX opened at $75.03 on Friday. The firm has a market cap of $8.04 billion, a PE ratio of 34.26, a PEG ratio of 3.39 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The firm’s 50 day moving average price is $68.61 and its 200 day moving average price is $72.92.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the prior year, the company posted $0.57 earnings per share. Trex’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TREX shares. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and cut their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Truist Financial decreased their target price on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Finally, Barclays lowered their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $79.94.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.