American Century Companies Inc. Increases Holdings in Trex Company, Inc. (NYSE:TREX)

American Century Companies Inc. boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,843,376 shares of the construction company’s stock after acquiring an additional 122,658 shares during the quarter. American Century Companies Inc. owned 1.70% of Trex worth $136,631,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after acquiring an additional 65,428 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Trex by 19.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after purchasing an additional 660,536 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares during the period. TD Asset Management Inc grew its holdings in Trex by 516.8% in the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after purchasing an additional 1,341,419 shares during the period. Finally, Norges Bank acquired a new stake in Trex in the fourth quarter valued at approximately $113,613,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

NYSE TREX opened at $66.09 on Friday. The stock’s fifty day moving average is $70.47 and its two-hundred day moving average is $82.63. The firm has a market capitalization of $7.18 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.16 and a beta of 1.50. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group dropped their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets dropped their price objective on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Barclays dropped their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. B. Riley dropped their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial lowered their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus target price of $80.88.

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.