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

Impax Asset Management Group plc grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 907,109 shares of the construction company’s stock after acquiring an additional 84,748 shares during the quarter. Impax Asset Management Group plc’s holdings in Trex were worth $62,618,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Securities Inc. grew its position in Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after purchasing an additional 147 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after acquiring an additional 148 shares in the last quarter. CIBC Asset Management Inc lifted its position in Trex by 5.5% in 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 in the last quarter. First Horizon Advisors Inc. lifted its position in Trex by 8.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after acquiring an additional 184 shares in the last quarter. Finally, Mather Group LLC. raised its stake 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 purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Trading Down 6.8 %

NYSE:TREX opened at $60.59 on Monday. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a fifty day simple moving average of $70.15 and a 200-day simple moving average of $68.73.

Analyst Ratings Changes

TREX has been the topic of a number of research reports. Barclays dropped their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets increased their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.81.

Trex 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.