GSA Capital Partners LLP Takes Position in Trex Company, Inc. $TREX

GSA Capital Partners LLP acquired a new stake in Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,600 shares of the construction company’s stock, valued at approximately $681,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings 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 worth $253,467,000 after acquiring an additional 5,251,297 shares in the last quarter. AQR Capital Management LLC grew its holdings in Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after purchasing an additional 2,297,533 shares during the last quarter. Morgan Stanley increased its position in Trex by 44.6% during the 4th quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after buying an additional 713,054 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Trex by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock valued at $67,132,000 after acquiring an additional 24,892 shares in the last quarter. Finally, Norges Bank acquired a new position in Trex during the 4th quarter valued at approximately $62,904,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX stock opened at $48.25 on Thursday. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06. The firm’s 50 day moving average price is $46.68 and its 200-day moving average price is $42.29. The firm has a market cap of $5.01 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.29 and a beta of 1.48.

Trex (NYSE:TREX) last issued its quarterly earnings data 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). The firm had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts predict that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the company’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 transaction of $70,000.00. Following the sale, the senior vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

TREX has been the topic of a number of research reports. Truist Financial increased their price objective on Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Citigroup reiterated a “neutral” rating and issued a $52.00 price objective (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. DA Davidson reissued a “buy” rating and issued a $55.00 price target on shares of Trex in a research note on Tuesday, July 14th. Stephens lifted their price objective on Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, Barclays reaffirmed an “underweight” rating and set a $42.00 target price (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.