Trex Company, Inc. $TREX Shares Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 449.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 194,459 shares of the construction company’s stock after purchasing an additional 159,039 shares during the quarter. WINTON GROUP Ltd’s holdings in Trex were worth $9,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Trex in the 2nd quarter valued at $525,081,000. California State Teachers Retirement System lifted its position in Trex by 4,531.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,988,837 shares of the construction company’s stock worth $299,681,000 after acquiring an additional 5,859,516 shares during the period. Wellington Management Group LLP grew its stake 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 valued at $253,467,000 after purchasing an additional 5,251,297 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after purchasing an additional 2,297,533 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Trex in the second quarter valued at about $94,851,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Price Performance

Trex stock opened at $45.50 on Thursday. The stock has a market capitalization of $4.73 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The business has a 50 day simple moving average of $46.12 and a 200-day simple moving average of $42.59. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $62.45.

Trex (NYSE:TREX) last announced 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 analysts’ expectations of $415.71 million. During the same quarter last year, the business earned $0.71 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares of the company’s stock, valued at $3,394,445.58. This represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TREX shares. Truist Financial upped their target price on Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. BMO Capital Markets set a $57.00 price objective on shares of Trex in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Trex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. The Goldman Sachs Group restated a “buy” rating and set a $56.00 target price (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Finally, Barclays reaffirmed an “underweight” rating and set a $42.00 price target (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. One investment 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. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $49.30.

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.