Harrington Investments INC Has $402,000 Position in Trex Company, Inc. (NYSE:TREX)

Posted by Terry King on Mar 19th, 2023

Harrington Investments INC boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,504 shares of the construction company’s stock after acquiring an additional 243 shares during the quarter. Harrington Investments INC’s holdings in Trex were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Trex by 1.7% during the third quarter. BlackRock Inc. now owns 10,945,069 shares of the construction company’s stock worth $480,926,000 after buying an additional 182,788 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Trex by 1.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,218,654 shares of the construction company’s stock worth $392,839,000 after buying an additional 80,597 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Trex by 2.0% during the second quarter. Clearbridge Investments LLC now owns 4,457,088 shares of the construction company’s stock worth $242,555,000 after buying an additional 87,541 shares in the last quarter. State Street Corp boosted its stake in Trex by 4.9% during the first quarter. State Street Corp now owns 3,637,869 shares of the construction company’s stock worth $237,662,000 after buying an additional 169,291 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its stake in shares of Trex by 7.0% in the 1st quarter. Wasatch Advisors Inc. now owns 3,385,680 shares of the construction company’s stock valued at $221,186,000 after purchasing an additional 220,344 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

Trex Stock Performance

NYSE:TREX traded down $1.23 on Friday, hitting $46.67. 1,463,921 shares of the stock were exchanged, compared to its average volume of 1,162,349. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 9.10 and a beta of 1.49. The company’s 50-day moving average price is $51.80 and its 200 day moving average price is $47.75. Trex Company, Inc. has a 52 week low of $38.68 and a 52 week high of $81.19.

Trex (NYSE:TREX – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The construction company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $192.10 million during the quarter, compared to analysts’ expectations of $185.46 million. Trex had a return on equity of 32.97% and a net margin of 16.69%. Trex’s revenue was down 36.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, equities research analysts predict that Trex Company, Inc. will post 1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TREX. Stephens boosted their target price on shares of Trex from $53.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. B. Riley reduced their target price on shares of Trex from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. Barclays boosted their target price on shares of Trex from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 28th. Benchmark boosted their target price on shares of Trex from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. Finally, StockNews.com began coverage on shares of Trex in a research report on Thursday. They set a “sell” rating on the stock. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.75.

Trex Company Profile

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.