ING Groep NV Makes New Investment in Trex Company, Inc. $TREX

ING Groep NV bought a new position in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 73,100 shares of the construction company’s stock, valued at approximately $2,564,000. ING Groep NV owned 0.07% of Trex at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TREX. Norges Bank acquired a new stake in Trex in the fourth quarter worth approximately $62,904,000. AQR Capital Management LLC lifted its position in Trex by 17,551.6% in the third quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock worth $81,498,000 after purchasing an additional 1,588,948 shares during the period. Impax Asset Management Group plc lifted its position in Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after purchasing an additional 932,247 shares during the period. Wellington Management Group LLP lifted its position in Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after purchasing an additional 917,448 shares during the period. Finally, Bank of America Corp DE lifted its position in Trex by 93.1% in the second quarter. Bank of America Corp DE now owns 1,299,381 shares of the construction company’s stock worth $70,660,000 after purchasing an additional 626,452 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Benchmark downgraded Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. UBS Group restated a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Bank of America cut their target price on Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Stifel Nicolaus upped their target price on Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded Trex from a “hold” rating to a “sell” rating in a research report on Saturday. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.42.

Trex Stock Performance

NYSE TREX opened at $44.37 on Wednesday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 24.79, a P/E/G ratio of 8.52 and a beta of 1.51. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78. The business’s fifty day moving average is $39.65 and its two-hundred day moving average is $38.92.

Trex (NYSE:TREX) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, research analysts forecast that Trex Company, Inc. will post 1.68 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.