Voya Investment Management LLC Sells 315,485 Shares of Trex Company, Inc. $TREX

by · The Markets Daily

Voya Investment Management LLC decreased its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 56.9% during the third quarter, Holdings Channel.com reports. The fund owned 238,720 shares of the construction company’s stock after selling 315,485 shares during the quarter. Voya Investment Management LLC’s holdings in Trex were worth $12,335,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Trex during the second quarter valued at approximately $31,000. Parallel Advisors LLC lifted its position in shares of Trex by 28.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock worth $57,000 after purchasing an additional 232 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Trex during the 2nd quarter valued at about $60,000. CWM LLC increased its position in shares of 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 during the period. Finally, UMB Bank n.a. raised its stake in Trex by 41.4% in the second quarter. UMB Bank n.a. now owns 1,168 shares of the construction company’s stock worth $64,000 after buying an additional 342 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research analyst reports. DA Davidson set a $45.00 target price on Trex and gave the stock a “neutral” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price target on Trex from $71.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Truist Financial lowered their price objective on Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Bank of America reiterated an “underperform” rating and issued a $36.00 price target (down from $67.00) on shares of Trex in a research note on Wednesday, November 5th. Finally, Barclays set a $32.00 price objective on shares of Trex in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average target price of $49.26.

View Our Latest Report on TREX

Trex Stock Up 1.1%

Shares of TREX opened at $35.72 on Tuesday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $75.55. The company has a market capitalization of $3.83 billion, a P/E ratio of 19.42 and a beta of 1.58. The firm has a 50 day moving average of $38.83 and a 200 day moving average of $51.88.

Trex (NYSE:TREX – Get Free Report) last issued its earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). The business had revenue of $285.35 million for the quarter, compared to analysts’ expectations of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Activity at Trex

In related news, CFO Prithvi Gandhi acquired 15,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was purchased at an average cost of $31.92 per share, with a total value of $478,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at approximately $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.74% of the stock is owned by corporate insiders.

Trex Profile

(Free Report)

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.

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