UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Trex Company, Inc. $TREX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Trex Company, Inc. (NYSE:TREX) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 563,931 shares of the construction company’s stock after selling 21,960 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Trex were worth $28,219,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of the firm’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 completion of the transaction, the senior vice president owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. The trade was a 3.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

TREX has been the subject of several research reports. Citigroup reiterated a “neutral” rating and set a $52.00 price target (up from $43.00) on shares of Trex in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, May 18th. UBS Group reissued a “buy” rating and issued a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Trex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.30.

Trex Trading Down 0.1%

TREX stock opened at $43.67 on Friday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $66.06. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 3.02 and a beta of 1.47. The company’s 50 day moving average is $46.44 and its 200 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The business had revenue of $418.02 million during the quarter, compared to analysts’ expectations of $415.71 million. During the same period last year, the company posted $0.71 EPS. Trex’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Trex Company, Inc. will post 1.76 EPS for the current fiscal 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.