Allspring Global Investments Holdings LLC Lowers Stake in Trex Company, Inc. (NYSE:TREX)

Allspring Global Investments Holdings LLC decreased its stake in Trex Company, Inc. (NYSE:TREX) by 87.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,103 shares of the construction company’s stock after selling 729,638 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Trex worth $8,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redwood Investments LLC purchased a new stake in shares of Trex in the fourth quarter worth about $2,271,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Trex in the third quarter worth about $4,053,000. Quantbot Technologies LP lifted its stake in shares of Trex by 81.8% in the third quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company’s stock worth $3,937,000 after acquiring an additional 28,746 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Trex in the third quarter worth about $6,326,000. Finally, Malaga Cove Capital LLC lifted its stake in shares of Trex by 11.4% in the third quarter. Malaga Cove Capital LLC now owns 15,240 shares of the construction company’s stock worth $939,000 after acquiring an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TREX. Stifel Nicolaus boosted their price target on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Barclays boosted their price target on Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Benchmark upped their price objective on Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group upped their price objective on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.72.

Trex Trading Down 1.4 %

NYSE:TREX opened at $87.76 on Thursday. The firm has a market capitalization of $9.53 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 2.05 and a beta of 1.60. The stock has a 50 day moving average of $94.30 and a 200-day moving average of $79.26. Trex Company, Inc. has a 52 week low of $51.03 and a 52 week high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The business had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that Trex Company, Inc. will post 2.21 EPS for the current fiscal year.

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.