Wellington Management Group LLP Boosts Stake in Trex Company, Inc. $TREX

Wellington Management Group LLP raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,877,116 shares of the construction company’s stock after purchasing an additional 1,518,338 shares during the quarter. Wellington Management Group LLP owned 9.51% of Trex worth $494,251,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Trex in the 2nd quarter valued at approximately $446,000. Hill City Capital LP bought a new position in Trex during the second quarter worth $27,522,000. Public Employees Retirement System of Ohio acquired a new position in Trex in the second quarter worth $3,176,000. Proficio Capital Partners LLC acquired a new position in Trex in the second quarter worth $300,000. Finally, Corient Private Wealth LP acquired a new position in Trex in the second quarter worth $2,749,000. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Down 0.5%

Shares of NYSE:TREX opened at $45.84 on Friday. The company has a market cap of $4.76 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 3.16 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. The company’s fifty day moving average is $46.72 and its two-hundred day moving average is $42.49.

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

Wall Street Analyst Weigh In

TREX has been the topic of a number of recent research reports. Stifel Nicolaus set a $49.00 target price on shares of Trex and gave the stock a “hold” rating in a report on Tuesday, August 11th. Truist Financial upped 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 reiterated a “hold” rating and issued a $51.00 target price (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, May 18th. Finally, Citigroup restated a “neutral” rating and issued a $52.00 price target (up from $43.00) on shares of Trex in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.30.

Insider Buying and Selling at Trex

In related news, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president 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 document filed 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 Trex stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total value 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 represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.93% of the stock is currently 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.