EULAV Asset Management Cuts Stock Position in Trex Company, Inc. $TREX

EULAV Asset Management trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 25.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 48,000 shares of the construction company’s stock after selling 16,000 shares during the period. EULAV Asset Management’s holdings in Trex were worth $2,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TREX. Armstrong Advisory Group Inc. acquired a new stake in Trex in the 2nd quarter valued at $31,000. Steigerwald Gordon & Koch Inc. purchased a new position in Trex during the third quarter valued at $31,000. Parallel Advisors LLC grew its position in shares of Trex by 28.4% in the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after purchasing an additional 232 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Trex during the second quarter worth about $60,000. Finally, CWM LLC increased its stake in shares of Trex by 16.8% during the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research reports. William Blair lowered shares of Trex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Benchmark reduced their target price on Trex from $80.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. DA Davidson raised Trex from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Monday. Robert W. Baird set a $48.00 price target on Trex in a research report on Monday. Finally, Truist Financial decreased their price objective on Trex from $75.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Trex presently has an average rating of “Hold” and a consensus target price of $47.25.

Trex Stock Performance

NYSE:TREX opened at $43.05 on Friday. Trex Company, Inc. has a one year low of $29.77 and a one year high of $75.55. The stock has a market cap of $4.62 billion, a PE ratio of 23.40 and a beta of 1.55. The stock has a 50 day moving average price of $35.18 and a 200 day moving average price of $49.74.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.06). Trex had a net margin of 16.76% and a return on equity of 21.90%. The company had revenue of $285.35 million during the quarter, compared to analysts’ expectations of $301.74 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other news, CFO Prithvi Gandhi acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the transaction, the chief financial officer owned 30,664 shares in the company, valued at approximately $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company’s stock.

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.