Landscape Capital Management L.L.C. acquired a new position in shares of Trex Company, Inc. (NYSE:TREX – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 107,454 shares of the construction company’s stock, valued at approximately $5,377,000. Landscape Capital Management L.L.C. owned 0.10% of Trex at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC bought a new position in Trex in the 4th quarter worth $33,000. Ascentis Independent Advisors bought a new stake in Trex during the first quarter valued at about $44,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Trex in the fourth quarter valued at about $47,000. Empowered Funds LLC acquired a new stake in shares of Trex in the fourth quarter valued at about $50,000. Finally, Versant Capital Management Inc bought a new position in shares of Trex in the second quarter worth about $58,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on TREX shares. Weiss Ratings downgraded Trex from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Truist Financial upped their price target on Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. BMO Capital Markets set a $57.00 price objective on Trex in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the stock a “hold” rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.30.
Insider Activity at Trex
In other news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction that occurred 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 sale, the senior vice president 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Performance
Shares of TREX opened at $46.80 on Friday. The company has a 50-day simple moving average of $46.72 and a 200-day simple moving average of $42.36. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $66.06. The firm has a market capitalization of $4.86 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.26 and a beta of 1.48.
Trex (NYSE:TREX – Get Free Report) last released its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a return on equity of 18.03% and a net margin of 14.68%.The firm had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. During the same period last year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current year.
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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