Trex Company, Inc. $TREX Shares Purchased by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 93.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,934,581 shares of the construction company’s stock after purchasing an additional 932,247 shares during the quarter. Impax Asset Management Group plc owned approximately 1.80% of Trex worth $99,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. purchased a new position in Trex during the 3rd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Trex in the second quarter valued at about $60,000. CWM LLC grew its position in shares of Trex by 16.8% in the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after purchasing an additional 164 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Trex by 10,133.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock worth $67,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Trex by 21.0% during the 2nd quarter. Blue Trust Inc. now owns 1,377 shares of the construction company’s stock worth $75,000 after purchasing an additional 239 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TREX. DA Davidson upgraded Trex from a “neutral” rating to a “buy” rating and increased their target price for the company from $45.00 to $50.00 in a report on Monday, January 12th. Benchmark reduced their price objective on Trex from $80.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Jefferies Financial Group raised Trex from a “hold” rating to a “buy” rating and increased their price objective for the company from $39.00 to $42.00 in a research note on Monday, December 15th. Bank of America reissued an “underperform” rating and issued a $36.00 target price (down previously from $67.00) on shares of Trex in a research note on Wednesday, November 5th. Finally, Zelman & Associates lowered shares of Trex from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Trex has a consensus rating of “Hold” and a consensus target price of $47.25.

Insider Buying and Selling

In related news, CFO Prithvi Gandhi purchased 15,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the acquisition, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. The trade was a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.74% of the company’s stock.

Trex Trading Up 1.5%

Shares of Trex stock opened at $44.44 on Wednesday. The company has a fifty day moving average price of $38.81 and a 200 day moving average price of $47.19. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $71.01. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 24.15 and a beta of 1.58.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.