Trex Company, Inc. (NYSE:TREX) Position Increased by Alberta Investment Management Corp

Alberta Investment Management Corp raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,320 shares of the construction company’s stock after buying an additional 685 shares during the period. Alberta Investment Management Corp’s holdings in Trex were worth $505,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TREX. Blue Trust Inc. boosted its stake in Trex by 134.6% in the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,015 shares during the period. Raymond James & Associates boosted its stake in Trex by 6.0% in the 3rd quarter. Raymond James & Associates now owns 210,145 shares of the construction company’s stock worth $13,991,000 after purchasing an additional 11,922 shares during the period. International Assets Investment Management LLC boosted its stake in Trex by 7,363.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after purchasing an additional 2,430 shares during the period. Ballentine Partners LLC boosted its stake in Trex by 15.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock worth $209,000 after purchasing an additional 422 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Trex by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock worth $841,000 after purchasing an additional 855 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays cut their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson increased their target price on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.81.

Trex Trading Down 6.8 %

Trex stock opened at $60.59 on Friday. The company has a market capitalization of $6.49 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.51 and a beta of 1.51. The firm’s fifty day simple moving average is $70.15 and its 200-day simple moving average is $68.67. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

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.