Fisher Asset Management LLC Buys 4,534 Shares of Trex Company, Inc. (NYSE:TREX)

Fisher Asset Management LLC grew its holdings in Trex Company, Inc. (NYSE:TREX) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 98,720 shares of the construction company’s stock after buying an additional 4,534 shares during the quarter. Fisher Asset Management LLC’s holdings in Trex were worth $8,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Eagle Asset Management Inc. increased its stake in shares of Trex by 0.3% in the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after buying an additional 119 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Trex by 16.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock valued at $71,000 after buying an additional 124 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Trex by 6.9% in the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock valued at $178,000 after buying an additional 138 shares in the last quarter. Martin Capital Advisors LLP increased its stake in shares of Trex by 0.7% in the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock valued at $2,130,000 after buying an additional 168 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Trex by 13.2% in the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock valued at $129,000 after buying an additional 181 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

NYSE TREX opened at $84.17 on Thursday. 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 $9.15 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 1.84 and a beta of 1.56. The stock’s 50 day moving average price is $87.62 and its two-hundred day moving average price is $87.43.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $367.31 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 56.5% compared to the same quarter last year. On average, equities research analysts forecast that Trex Company, Inc. will post 2.26 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on TREX shares. Truist Financial lifted their price objective on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Robert W. Baird lowered their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Barclays lifted their price objective on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. The Goldman Sachs Group lifted their price objective on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.47.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.

Trex Company 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.