Lansforsakringar Fondforvaltning AB publ Invests $14.60 Million in Trex Company, Inc. $TREX

Lansforsakringar Fondforvaltning AB publ acquired a new stake in Trex Company, Inc. (NYSE:TREX) during the third quarter, Holdings Channel.com reports. The firm acquired 282,484 shares of the construction company’s stock, valued at approximately $14,596,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Trex by 91.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after buying an additional 392,715 shares during the period. CWM LLC boosted its holdings in shares of Trex by 16.8% during the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after buying an additional 164 shares during the period. Envestnet Asset Management Inc. grew its stake in Trex by 4.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 385,301 shares of the construction company’s stock valued at $20,953,000 after buying an additional 15,476 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Trex by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,294 shares of the construction company’s stock worth $886,000 after acquiring an additional 615 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TREX has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen lowered Trex from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Stifel Nicolaus set a $37.50 price objective on Trex and gave the stock a “hold” rating in a research report on Monday. Vertical Research lowered Trex from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, November 5th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $36.00 price target (down from $67.00) on shares of Trex in a research report on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $47.38.

Trex Stock Performance

NYSE TREX opened at $40.25 on Tuesday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78. The stock has a market cap of $4.32 billion, a PE ratio of 21.87 and a beta of 1.58. The firm has a 50-day simple moving average of $40.16 and a 200 day simple moving average of $45.77.

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.