abrdn plc Sells 1,533 Shares of Trex Company, Inc. (NYSE:TREX)

abrdn plc decreased its stake in Trex Company, Inc. (NYSE:TREX) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,308 shares of the construction company’s stock after selling 1,533 shares during the period. abrdn plc owned 0.10% of Trex worth $8,636,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC lifted its stake in Trex by 0.9% in the 3rd quarter. Clearbridge Investments LLC now owns 4,717,338 shares of the construction company’s stock valued at $290,730,000 after purchasing an additional 43,653 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Trex by 7.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,441,866 shares of the construction company’s stock valued at $212,122,000 after purchasing an additional 240,850 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in 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 acquiring an additional 13,545 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Trex by 97.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,239,723 shares of the construction company’s stock worth $76,404,000 after acquiring an additional 612,832 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Trex by 69.3% during the third quarter. Invesco Ltd. now owns 921,821 shares of the construction company’s stock worth $56,812,000 after acquiring an additional 377,377 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the subject of several research reports. Truist Financial raised their price objective on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Barclays raised their price objective on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research report on Thursday, April 4th. UBS Group raised their price objective on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Stifel Nicolaus raised their target price on shares of Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.72.

Trex Price Performance

Shares of NYSE:TREX opened at $90.57 on Friday. The company’s 50 day simple moving average is $94.05 and its 200 day simple moving average is $80.35. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 47.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $51.03 and a 1 year high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $195.75 million for the quarter, compared to analysts’ expectations of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, analysts anticipate that Trex Company, Inc. will post 2.22 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.