Trex Company, Inc. (NYSE:TREX) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 38.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,250,017 shares of the construction company’s stock after purchasing an additional 347,526 shares during the quarter. Federated Hermes Inc. owned approximately 1.17% of Trex worth $86,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TREX. Benjamin Edwards Inc. acquired a new stake in shares of Trex in the third quarter valued at approximately $734,000. HighTower Advisors LLC boosted its position in Trex by 18.3% during the 3rd quarter. HighTower Advisors LLC now owns 13,413 shares of the construction company’s stock worth $892,000 after acquiring an additional 2,072 shares during the period. State Street Corp grew its stake in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Trex during the third quarter valued at $1,481,000. Finally, MML Investors Services LLC raised its stake in shares of Trex by 22.7% during the third quarter. MML Investors Services LLC now owns 36,438 shares of the construction company’s stock valued at $2,426,000 after purchasing an additional 6,736 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

Trex Stock Down 0.8 %

NYSE TREX opened at $54.96 on Monday. The stock has a market capitalization of $5.89 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12-month low of $50.35 and a 12-month high of $97.69. The company has a 50 day moving average price of $62.97 and a two-hundred day moving average price of $67.65.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) 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 firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. As a group, equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on TREX shares. DA Davidson reissued a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group lowered their price target on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on Trex in a research note on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.00.

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.