Laurus Investment Counsel Inc. Sells 1,590 Shares of Trex Company, Inc. (NYSE:TREX)

Laurus Investment Counsel Inc. lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,780 shares of the construction company’s stock after selling 1,590 shares during the quarter. Trex makes up approximately 1.3% of Laurus Investment Counsel Inc.’s holdings, making the stock its 21st biggest holding. Laurus Investment Counsel Inc.’s holdings in Trex were worth $2,714,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Trex by 8.4% in the 1st quarter. BlackRock Inc. now owns 13,421,758 shares of the construction company’s stock valued at $653,237,000 after purchasing an additional 1,034,669 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Trex by 19.4% in the 2nd quarter. Alliancebernstein L.P. now owns 4,777,034 shares of the construction company’s stock valued at $313,182,000 after purchasing an additional 776,165 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of 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. State Street Corp boosted its stake in shares of Trex by 4.9% in the 1st quarter. State Street Corp now owns 3,637,869 shares of the construction company’s stock valued at $237,662,000 after purchasing an additional 169,291 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of 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. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.2 %

NYSE TREX opened at $99.30 on Thursday. Trex Company, Inc. has a 12-month low of $45.86 and a 12-month high of $101.91. The company has a market capitalization of $10.79 billion, a PE ratio of 52.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58. The firm’s 50 day moving average is $90.93 and its 200-day moving average is $76.14.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TREX shares. The Goldman Sachs Group raised their target price on shares of Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Barclays lifted their price objective on shares of Trex from $74.00 to $86.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 28th. Benchmark lifted their price objective on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Wolfe Research assumed coverage on shares of Trex in a research note on Tuesday, December 12th. They set a “peer perform” rating on the stock. Finally, Truist Financial lifted their price objective on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.89.

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.