Green Alpha Advisors LLC Makes New $888,000 Investment in Trex Company, Inc. $TREX

Green Alpha Advisors LLC bought a new position in Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,745 shares of the construction company’s stock, valued at approximately $888,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Trex in the second quarter valued at about $525,081,000. Wellington Management Group LLP grew its holdings in Trex by 266.0% during the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock worth $253,467,000 after acquiring an additional 5,251,297 shares in the last quarter. AQR Capital Management LLC grew its holdings in Trex by 143.8% during 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 in the last quarter. Morgan Stanley increased its position in Trex by 44.6% during the 4th quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after purchasing an additional 713,054 shares during the period. Finally, Geode Capital Management LLC increased its position in Trex by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock valued at $67,132,000 after purchasing an additional 24,892 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value 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 $1,831,550. The trade was a 3.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and set a $56.00 price objective (up from $49.00) on shares of Trex in a report on Friday, July 10th. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Stephens upped their target price on Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $49.00 target price on Trex and gave the company a “hold” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.30.

Trex Stock Down 1.1%

Shares of Trex stock opened at $46.80 on Friday. The company has a market cap of $4.86 billion, a P/E ratio of 27.86, a PEG ratio of 3.26 and a beta of 1.48. The firm’s 50 day moving average price is $46.72 and its 200-day moving average price is $42.36. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $66.06.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The firm had revenue of $418.02 million for the quarter, compared to analysts’ expectations of $415.71 million. During the same period in the previous year, the company earned $0.71 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Trex Company, Inc. will post 1.76 EPS for the current fiscal 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.