Polen Capital Management LLC Acquires 51,079 Shares of Trex Company, Inc. (NYSE:TREX)

Polen Capital Management LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 984.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,268 shares of the construction company’s stock after buying an additional 51,079 shares during the quarter. Polen Capital Management LLC owned 0.05% of Trex worth $3,884,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Atria Investments Inc grew its stake in Trex by 10.5% during the third quarter. Atria Investments Inc now owns 7,210 shares of the construction company’s stock worth $480,000 after purchasing an additional 683 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Trex in the third quarter valued at $626,000. KBC Group NV raised its stake in shares of Trex by 336.8% in the third quarter. KBC Group NV now owns 50,719 shares of the construction company’s stock valued at $3,377,000 after buying an additional 39,108 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Trex in the third quarter valued at $1,795,000. Finally, First Horizon Advisors Inc. grew its position in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after purchasing an additional 184 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Trex Stock Performance

Trex stock opened at $56.88 on Monday. The firm has a 50 day moving average price of $66.26 and a 200 day moving average price of $68.18. The company has a market capitalization of $6.10 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $100.77.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

TREX has been the subject of several recent analyst reports. Truist Financial reduced their target price on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. UBS Group reduced their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Company 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.