First Horizon Advisors Inc. Boosts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

First Horizon Advisors Inc. grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 16.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,648 shares of the construction company’s stock after purchasing an additional 366 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trex were worth $183,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Principal Securities Inc. boosted its holdings in Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after acquiring an additional 147 shares during the period. Pacer Advisors Inc. lifted its position in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 148 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Trex by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after purchasing an additional 175 shares during the period. Mather Group LLC. grew its holdings in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Trading Up 1.1 %

Shares of Trex stock opened at $62.33 on Wednesday. The business has a fifty day simple moving average of $69.54 and a two-hundred day simple moving average of $68.74. The firm has a market capitalization of $6.68 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

TREX has been the subject of several analyst reports. Barclays dropped their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group reduced their price target on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. DA Davidson reiterated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday. Finally, Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.38.

Trex Profile

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.