Havemeyer Place LP Makes New $1.42 Million Investment in Trex Company, Inc. $TREX

Havemeyer Place LP bought a new position in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 40,404 shares of the construction company’s stock, valued at approximately $1,417,000.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Trex in the 4th quarter worth about $27,000. Clearstead Trust LLC purchased a new position in Trex in the 4th quarter worth about $33,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex in the 4th quarter worth about $47,000. Rothschild Investment LLC purchased a new position in Trex in the 3rd quarter worth about $60,000. Finally, Covestor Ltd raised its position in Trex by 1,365.4% in the 4th quarter. Covestor Ltd now owns 1,905 shares of the construction company’s stock worth $67,000 after buying an additional 1,775 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TREX shares. Wall Street Zen lowered Trex from a “hold” rating to a “sell” rating in a research report on Saturday. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and upped their price target for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. UBS Group reaffirmed a “buy” rating and set a $59.00 price target (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Finally, Bank of America reduced their price target on shares of Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.42.

Trex Stock Performance

NYSE TREX opened at $39.79 on Monday. The company has a market capitalization of $4.13 billion, a P/E ratio of 22.23, a P/E/G ratio of 8.03 and a beta of 1.51. Trex Company, Inc. has a one year low of $29.77 and a one year high of $68.78. The stock has a 50 day moving average price of $39.37 and a 200-day moving average price of $38.75.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $343.40 million for 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%.Trex’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, equities analysts predict that Trex Company, Inc. will post 1.68 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.