Magnetar Financial LLC Takes Position in Trex Company, Inc. $TREX

Magnetar Financial LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 69,467 shares of the construction company’s stock, valued at approximately $3,589,000. Magnetar Financial LLC owned 0.06% of Trex at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in Trex by 10.4% during the 3rd quarter. Van ECK Associates Corp now owns 106,939 shares of the construction company’s stock valued at $5,526,000 after purchasing an additional 10,081 shares during the period. FourThought Financial Partners LLC acquired a new stake in Trex in the third quarter worth $222,000. Fieldview Capital Management LLC bought a new stake in Trex in the third quarter valued at $817,000. Swiss National Bank lifted its stake in Trex by 1.5% in the third quarter. Swiss National Bank now owns 207,800 shares of the construction company’s stock valued at $10,737,000 after buying an additional 3,000 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Trex during the third quarter valued at $998,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 2.4%

Shares of NYSE TREX opened at $38.17 on Thursday. The stock has a market cap of $4.04 billion, a P/E ratio of 21.57, a P/E/G ratio of 8.56 and a beta of 1.58. The firm’s 50-day simple moving average is $41.21 and its 200 day simple moving average is $43.97. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $161.13 million during the quarter, compared to analyst estimates of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. Trex’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on TREX shares. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Trex in a research report on Monday, December 29th. UBS Group raised their price target on shares of Trex from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group raised Trex from a “hold” rating to a “buy” rating and lifted their price target for the company from $39.00 to $42.00 in a report on Monday, December 15th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.78.

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.