Lombard Odier Asset Management Europe Ltd Decreases Stock Position in Trex Company, Inc. $TREX

Lombard Odier Asset Management Europe Ltd cut its stake in Trex Company, Inc. (NYSE:TREX) by 79.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,972 shares of the construction company’s stock after selling 46,997 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Trex were worth $436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Trex by 266.0% during the fourth quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after acquiring an additional 5,251,297 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Trex by 143.8% in the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after acquiring an additional 2,297,533 shares during the last quarter. Norges Bank bought a new stake in shares of Trex in the 4th quarter worth about $62,904,000. Freestone Grove Partners LP purchased a new position in shares of Trex during the 4th quarter worth about $53,951,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Trex by 120.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,326,379 shares of the construction company’s stock worth $46,529,000 after purchasing an additional 725,090 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

NYSE:TREX opened at $44.69 on Tuesday. The firm has a 50-day simple moving average of $44.93 and a 200-day simple moving average of $41.78. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.36. The firm has a market cap of $4.64 billion, a P/E ratio of 24.96, a P/E/G ratio of 4.98 and a beta of 1.48.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The business had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.99 million. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts predict that Trex Company, Inc. will post 1.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens increased their price objective on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 target price (up from $41.00) on shares of Trex in a research report on Tuesday, July 14th. Stifel Nicolaus upped their target price on Trex from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Barclays reiterated an “underweight” rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Bank of America raised their price target on Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.15.

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.93% of the company’s stock.

Trex Company 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.