William Blair Investment Management LLC Purchases Shares of 511,527 Trex Company, Inc. $TREX

William Blair Investment Management LLC purchased a new stake in Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 511,527 shares of the construction company’s stock, valued at approximately $25,597,000. William Blair Investment Management LLC owned about 0.49% of Trex at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TREX. BlackRock Inc. acquired a new stake in Trex during the 2nd quarter valued at $525,081,000. Wellington Management Group LLP raised its holdings in shares of Trex by 266.0% in the fourth quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock worth $253,467,000 after acquiring an additional 5,251,297 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after acquiring an additional 2,297,533 shares in the last quarter. Morgan Stanley lifted its position in shares of Trex by 44.6% in the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after acquiring an additional 713,054 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Trex by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock valued at $67,132,000 after acquiring an additional 24,892 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TREX has been the subject of a number of recent research reports. BMO Capital Markets set a $57.00 price objective on Trex in a research report on Wednesday, August 5th. Truist Financial upped their target price on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. UBS Group reaffirmed a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. DA Davidson reiterated a “buy” rating and set a $55.00 price target on shares of Trex in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Trex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.30.

Trex Stock Performance

TREX opened at $46.80 on Friday. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The firm has a 50 day moving average price of $46.72 and a 200 day moving average price of $42.36. The company has a market cap of $4.86 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following 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 ownership of the stock. The transaction 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 company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.93% 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.