Impax Asset Management Group plc Acquires 84,748 Shares of Trex Company, Inc. (NYSE:TREX)

Impax Asset Management Group plc grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 907,109 shares of the construction company’s stock after purchasing an additional 84,748 shares during the quarter. Impax Asset Management Group plc owned approximately 0.85% of Trex worth $62,618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TREX. Principal Securities Inc. raised its holdings in shares of Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. grew its stake in Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after buying an additional 148 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after acquiring an additional 175 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after acquiring an additional 184 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

TREX stock opened at $60.59 on Monday. The firm has a 50-day moving average of $70.15 and a 200 day moving average of $68.73. The company has a market cap of $6.49 billion, a P/E ratio of 27.66, a PEG ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TREX. Citigroup lowered their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Barclays lowered their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Finally, DA Davidson upped their target price on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.81.

About Trex

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.