Trex Company, Inc. $TREX Stake Lifted by Granite Investment Partners LLC

Granite Investment Partners LLC lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 240.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,809 shares of the construction company’s stock after acquiring an additional 117,764 shares during the quarter. Granite Investment Partners LLC owned about 0.16% of Trex worth $8,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in Trex during the 3rd quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Trex in the second quarter valued at $60,000. Rothschild Investment LLC bought a new position in Trex during the third quarter valued at about $60,000. CWM LLC boosted its stake in Trex by 16.8% during the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after buying an additional 164 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Trex by 10,133.3% during the second quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock worth $67,000 after acquiring an additional 1,216 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TREX shares. JPMorgan Chase & Co. cut their price target on shares of Trex from $71.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Zacks Research raised shares of Trex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. DA Davidson raised Trex from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $50.00 in a report on Monday, January 12th. Truist Financial reduced their price objective on Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group set a $54.00 target price on Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.25.

Trex Stock Performance

Trex stock opened at $41.71 on Monday. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.67 and a beta of 1.58. The company has a 50 day moving average price of $40.05 and a 200 day moving average price of $45.92.

Trex 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.