85,641 Shares in Trex Company, Inc. $TREX Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 85,641 shares of the construction company’s stock, valued at approximately $4,271,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of Trex during the fourth quarter worth $33,000. Ascentis Independent Advisors acquired a new position in shares of Trex in the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Trex in the 4th quarter valued at about $47,000. Empowered Funds LLC acquired a new position in shares of Trex in the 4th quarter valued at about $50,000. Finally, Versant Capital Management Inc bought a new stake in shares of Trex during the 2nd quarter valued at about $58,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TREX shares. Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the stock a “hold” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 target price (up from $49.00) on shares of Trex in a report on Friday, July 10th. UBS Group reiterated a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Bank of America boosted their price objective on Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.30.

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the business’s 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 transaction, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. The trade was a 3.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 67,794 shares of the company’s stock, valued at $3,394,445.58. This trade represents 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 Trading Down 0.5%

NYSE TREX opened at $45.84 on Friday. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $66.06. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 3.16 and a beta of 1.48. The company has a 50-day moving average price of $46.72 and a two-hundred day moving average price of $42.49.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate 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%. Trex’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities research analysts expect that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

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.