Federated Hermes Inc. Sells 34,535 Shares of Trex Company, Inc. (NYSE:TREX)

Federated Hermes Inc. decreased its holdings in Trex Company, Inc. (NYSE:TREX) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,181 shares of the construction company’s stock after selling 34,535 shares during the period. Federated Hermes Inc.’s holdings in Trex were worth $50,600,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trex by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,331 shares of the construction company’s stock worth $2,097,000 after buying an additional 1,837 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Trex during the fourth quarter worth approximately $2,525,000. WCM Investment Management LLC grew its position in shares of Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock valued at $21,027,000 after purchasing an additional 21,486 shares during the last quarter. Cerity Partners LLC grew its position in shares of Trex by 14.8% in the fourth quarter. Cerity Partners LLC now owns 395,143 shares of the construction company’s stock valued at $32,714,000 after purchasing an additional 51,079 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Trex by 0.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,886,128 shares of the construction company’s stock worth $156,153,000 after purchasing an additional 13,545 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Barclays raised their target price on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a report on Thursday, April 4th. Robert W. Baird boosted their price target on Trex from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group increased their price target on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Trex has an average rating of “Hold” and a consensus price target of $88.72.

Trex Stock Performance

Shares of TREX opened at $87.45 on Friday. Trex Company, Inc. has a 52 week low of $51.03 and a 52 week high of $101.91. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 2.02 and a beta of 1.60. The stock has a fifty day moving average of $94.18 and a 200-day moving average of $79.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, beating 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 firm had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Trex Company, Inc. will post 2.21 EPS for the current year.

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.