Gabelli Funds LLC Increases Stake in Trex Company, Inc. $TREX

Gabelli Funds LLC increased its stake in Trex Company, Inc. (NYSE:TREX) by 73.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,805 shares of the construction company’s stock after acquiring an additional 36,805 shares during the period. Gabelli Funds LLC’s holdings in Trex were worth $3,161,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Trex during the fourth quarter worth approximately $27,000. Clearstead Trust LLC purchased a new stake in shares of Trex during the 4th quarter valued at $33,000. Ascentis Independent Advisors purchased a new stake in shares of Trex during the 1st quarter valued at $44,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Trex during the 4th quarter worth $47,000. Finally, Empowered Funds LLC acquired a new stake in shares of Trex during the 4th quarter worth $50,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America lifted their target price on Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday, July 14th. Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price objective (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Stifel Nicolaus lifted their price objective on Trex from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Stephens boosted their target price on Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.15.

Trex Price Performance

Shares of TREX opened at $44.00 on Wednesday. The stock’s 50-day moving average is $44.55 and its two-hundred day moving average is $41.70. The stock has a market cap of $4.57 billion, a PE ratio of 24.58, a P/E/G ratio of 5.05 and a beta of 1.46. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.24.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, research analysts anticipate that Trex Company, Inc. will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was 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 in the company, valued at $1,831,550. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by corporate insiders.

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.