QV Investors Inc. Purchases Shares of 32,270 Trex Company, Inc. $TREX

QV Investors Inc. acquired a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,270 shares of the construction company’s stock, valued at approximately $1,615,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Trex by 91.3% in the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after buying an additional 392,715 shares in the last quarter. Hsbc Holdings PLC grew its stake in Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after buying an additional 322 shares during the last quarter. First Trust Advisors LP grew its stake in Trex by 535.1% during the second quarter. First Trust Advisors LP now owns 22,038 shares of the construction company’s stock worth $1,198,000 after buying an additional 18,568 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Trex during the second quarter worth approximately $1,055,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction on Friday, August 7th. The shares were 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. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the 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 directly owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents 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. 0.93% of the stock is currently owned by company insiders.

Trex Stock Up 0.2%

Trex stock opened at $45.84 on Monday. The business’s 50-day simple moving average is $46.72 and its 200 day simple moving average is $42.48. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 3.16 and a beta of 1.48. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $66.06.

Trex (NYSE:TREX) last released its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (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 business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

TREX has been the topic of a number of research analyst reports. Weiss Ratings lowered Trex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. DA Davidson reiterated a “buy” rating and issued a $55.00 price objective on shares of Trex in a research report on Tuesday, July 14th. UBS Group restated a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $56.00 price target (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Finally, Stephens raised their price objective on shares of Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.