Trex Company, Inc. (NYSE:TREX) Shares Acquired by PineStone Asset Management Inc.

PineStone Asset Management Inc. boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,569 shares of the construction company’s stock after buying an additional 23,200 shares during the quarter. PineStone Asset Management Inc. owned 0.15% of Trex worth $11,222,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TREX. Truist Financial Corp grew its stake in shares of Trex by 15.0% in the 2nd quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock worth $293,000 after purchasing an additional 515 shares during the last quarter. Inspire Investing LLC grew its position in Trex by 30.4% in the third quarter. Inspire Investing LLC now owns 6,193 shares of the construction company’s stock worth $412,000 after buying an additional 1,445 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Trex by 15.1% in the third quarter. NBC Securities Inc. now owns 4,407 shares of the construction company’s stock valued at $293,000 after buying an additional 577 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Trex by 134.6% during the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Trex by 6.0% during the 3rd quarter. Raymond James & Associates now owns 210,145 shares of the construction company’s stock worth $13,991,000 after acquiring an additional 11,922 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

Trex stock opened at $67.25 on Friday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The company’s fifty day moving average price is $71.44 and its two-hundred day moving average price is $69.24. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.82 and a beta of 1.51.

Wall Street Analyst Weigh In

TREX has been the subject of several analyst reports. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. DA Davidson upped their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. 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 report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.81.

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.