460,237 Shares in Trex Company, Inc. $TREX Bought by Heron Bay Capital Management

Heron Bay Capital Management acquired a new position in Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 460,237 shares of the construction company’s stock, valued at approximately $23,030,000. Trex comprises about 2.1% of Heron Bay Capital Management’s investment portfolio, making the stock its 19th largest position. Heron Bay Capital Management owned about 0.44% of Trex as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TREX. BlackRock Inc. bought a new stake in shares of Trex during the 2nd quarter worth $525,081,000. Wellington Management Group LLP grew 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 buying an additional 5,251,297 shares during the period. AQR Capital Management LLC increased its holdings in Trex by 143.8% during the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after buying an additional 2,297,533 shares during the last quarter. Norges Bank purchased a new stake in Trex during the fourth quarter worth about $62,904,000. Finally, Freestone Grove Partners LP bought a new stake in Trex in the fourth quarter worth about $53,951,000. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling

In other news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares of the company’s stock, valued at $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the transaction, the senior vice president owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by insiders.

Trex Stock Down 1.1%

Shares of NYSE:TREX opened at $46.80 on Friday. The firm has a market capitalization of $4.86 billion, a PE ratio of 27.86, a P/E/G ratio of 3.26 and a beta of 1.48. The company has a 50-day moving average price of $46.72 and a two-hundred day moving average price of $42.36. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TREX shares. Stifel Nicolaus set a $49.00 target price on shares of Trex and gave the company a “hold” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 price target (up from $49.00) on shares of Trex in a report on Friday, July 10th. BMO Capital Markets set a $57.00 price objective on Trex in a research note on Wednesday, August 5th. UBS Group reissued a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, May 18th. One research 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 company. According to data from MarketBeat, Trex has an average rating of “Hold” and an average target price of $49.30.

About Trex

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.