Alberta Investment Management Corp Purchases 685 Shares of Trex Company, Inc. (NYSE:TREX)

Alberta Investment Management Corp increased its position in Trex Company, Inc. (NYSE:TREX) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,320 shares of the construction company’s stock after acquiring an additional 685 shares during the quarter. Alberta Investment Management Corp’s holdings in Trex were worth $505,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TREX. AustralianSuper Pty Ltd bought a new position in Trex in the 4th quarter worth $110,414,000. Wasatch Advisors LP grew its position in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. grew its position in Trex by 100.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after purchasing an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Barclays decreased their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Citigroup decreased their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. DA Davidson lifted their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird lifted their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.81.

Trex Stock Down 6.8 %

Shares of TREX stock opened at $60.59 on Friday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a market capitalization of $6.49 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.51 and a beta of 1.51. The firm has a 50-day moving average price of $70.15 and a 200 day moving average price of $68.67.

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.