Federated Hermes Inc. Buys 217,767 Shares of Trex Company, Inc. (NYSE:TREX)

Federated Hermes Inc. lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 39.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 774,083 shares of the construction company’s stock after acquiring an additional 217,767 shares during the quarter. Federated Hermes Inc.’s holdings in Trex were worth $57,375,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. lifted its holdings in Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock worth $3,863,000 after purchasing an additional 119 shares in the last quarter. Covestor Ltd lifted its holdings in Trex by 11.3% in the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Trex by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after purchasing an additional 124 shares in the last quarter. Harrington Investments INC lifted its holdings in Trex by 1.4% in the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Trex by 4.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after purchasing an additional 173 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Up 3.1 %

NYSE TREX opened at $66.09 on Friday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The stock has a market capitalization of $7.18 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.50. The firm has a 50 day moving average of $70.47 and a two-hundred day moving average of $82.63.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter in the previous year, the business posted $0.71 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Truist Financial decreased their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays decreased their price target on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus decreased their price target on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.88.

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.