Trex Company, Inc. $TREX Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in shares of Trex Company, Inc. (NYSE:TREX) by 16.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,175 shares of the construction company’s stock after purchasing an additional 15,705 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trex were worth $5,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TREX. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Trex during the third quarter worth $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Trex in the 2nd quarter worth $60,000. CWM LLC lifted its position in 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 acquiring an additional 164 shares during the period. Hantz Financial Services Inc. grew its stake in Trex by 10,133.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock valued at $67,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Trex by 21.0% in the second quarter. Blue Trust Inc. now owns 1,377 shares of the construction company’s stock valued at $75,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TREX. Benchmark decreased their target price on Trex from $80.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. DA Davidson raised shares of Trex from a “neutral” rating to a “buy” rating and raised their price target for the stock from $45.00 to $50.00 in a research report on Monday, January 12th. Robert W. Baird set a $48.00 price objective on shares of Trex in a research note on Monday, January 12th. The Goldman Sachs Group set a $54.00 price objective on shares of Trex and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, B. Riley restated a “buy” rating and set a $57.00 target price (down from $80.00) on shares of Trex in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $47.25.

Insider Buying and Selling at Trex

In other Trex news, CFO Prithvi Gandhi purchased 15,000 shares of Trex stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of $31.92 per share, with a total value of $478,800.00. Following the acquisition, the chief financial officer owned 30,664 shares of the company’s stock, valued at $978,794.88. This trade represents a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by corporate insiders.

Trex Price Performance

TREX opened at $41.89 on Wednesday. The firm has a fifty day moving average price of $36.91 and a 200 day moving average price of $48.69. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $74.68. The stock has a market cap of $4.49 billion, a P/E ratio of 22.77 and a beta of 1.55.

Trex (NYSE:TREX) last released its quarterly 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). Trex had a net margin of 16.76% and a return on equity of 21.90%. The firm had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Trex 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.