Bennett Selby Investments LP Purchases 1,604 Shares of Trex Company, Inc. (NYSE:TREX)

Bennett Selby Investments LP lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,950 shares of the construction company’s stock after acquiring an additional 1,604 shares during the quarter. Trex makes up 1.5% of Bennett Selby Investments LP’s investment portfolio, making the stock its 15th largest position. Bennett Selby Investments LP’s holdings in Trex were worth $3,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spouting Rock Asset Management LLC raised its holdings in shares of Trex by 12.3% in the 4th quarter. Spouting Rock Asset Management LLC now owns 5,351 shares of the construction company’s stock valued at $443,000 after acquiring an additional 585 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Trex in the 4th quarter valued at about $25,000. Cim LLC purchased a new stake in shares of Trex in the 4th quarter valued at about $1,258,000. Fisher Asset Management LLC raised its holdings in shares of Trex by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock valued at $8,173,000 after acquiring an additional 4,534 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Trex by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,248,650 shares of the construction company’s stock valued at $848,486,000 after acquiring an additional 96,324 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the topic of a number of research reports. Truist Financial decreased their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird decreased their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. B. Riley decreased 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. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Jefferies Financial Group reduced their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $81.31.

Trex Stock Up 1.5 %

Shares of NYSE TREX opened at $64.51 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.19 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The business’s 50 day moving average is $65.18 and its two-hundred day moving average is $78.47.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.