Hill City Capital LP acquired a new stake in Trex Company, Inc. (NYSE:TREX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 550,000 shares of the construction company’s stock, valued at approximately $27,522,000. Trex accounts for about 0.0% of Hill City Capital LP’s investment portfolio, making the stock its 22nd biggest position. Hill City Capital LP owned about 0.53% of Trex at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clearstead Trust LLC acquired a new stake in shares of Trex during the 4th quarter valued at approximately $33,000. Versant Capital Management Inc bought a new position in shares of Trex during the second quarter worth approximately $58,000. Ascentis Independent Advisors acquired a new stake in Trex in the first quarter valued at $44,000. Eurizon Capital SGR S.p.A. bought a new position in Trex during the 4th quarter valued at $47,000. Finally, Empowered Funds LLC purchased a new position in shares of Trex during the 4th quarter valued at $50,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
Trex Stock Performance
Trex stock traded down $0.23 during trading hours on Friday, reaching $45.84. 1,143,843 shares of the stock were exchanged, compared to its average volume of 1,982,191. The stock has a market cap of $4.76 billion, a P/E ratio of 27.29, a P/E/G ratio of 3.22 and a beta of 1.48. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $66.06. The firm’s 50 day moving average is $46.74 and its 200 day moving average is $42.46.
Analysts Set New Price Targets
Several brokerages have weighed in on TREX. Truist Financial boosted their price objective on Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, May 18th. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group reissued a “buy” rating and issued a $61.00 price target (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.30.
Check Out Our Latest Analysis on Trex
Insider Transactions at Trex
In related news, 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing 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 stock in a transaction that occurred 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 sale, the senior vice president directly owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.
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