Pinnbrook Capital Management LP Acquires Shares of 93,900 Trex Company, Inc. $TREX

Pinnbrook Capital Management LP bought a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 93,900 shares of the construction company’s stock, valued at approximately $4,699,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clearstead Trust LLC bought a new position in shares of Trex in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc bought a new stake in Trex during the second quarter worth $58,000. Ascentis Independent Advisors purchased a new position in Trex in the first quarter worth $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex in the fourth quarter worth $47,000. Finally, Empowered Funds LLC bought a new position in Trex in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TREX shares. UBS Group reaffirmed a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Truist Financial increased their target price on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $56.00 price target (up from $49.00) on shares of Trex in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued 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 target price of $49.30.

Trex Trading Down 1.1%

Shares of NYSE TREX opened at $46.80 on Friday. The business has a 50-day moving average of $46.72 and a 200-day moving average of $42.36. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.23 and a beta of 1.48. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $66.06.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to analysts’ expectations of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, analysts predict that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of Trex 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 transaction, the senior vice president directly owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction 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 completion of the transaction, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. 0.93% of the stock is owned by company insiders.

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.