Trex Company, Inc. (NYSE:TREX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 926,624 shares of the construction company’s stock after purchasing an additional 24,554 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Trex were worth $63,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new position in shares of Trex during the 4th quarter valued at approximately $110,414,000. Wasatch Advisors LP lifted its position in shares of Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after buying an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after buying an additional 435,055 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TREX. Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. DA Davidson restated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Citigroup decreased their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America decreased their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Up 1.9 %

Shares of TREX opened at $55.09 on Thursday. The stock has a fifty day simple moving average of $67.08 and a two-hundred day simple moving average of $68.38. The company has a market capitalization of $5.90 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $100.77.

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. The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly 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 SEC, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

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.