Man Group plc Buys New Position in Trex Company, Inc. $TREX

Man Group plc purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, Holdings Channel reports. The firm purchased 222,615 shares of the construction company’s stock, valued at approximately $11,140,000.

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

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the transaction, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of Trex 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the stock a “hold” rating in a research report on Tuesday, August 11th. BMO Capital Markets set a $57.00 target price on shares of Trex in a research note on Wednesday, August 5th. The Goldman Sachs Group restated a “buy” rating and issued a $56.00 price target (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings cut Trex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.30.

Trex Trading Down 0.5%

TREX stock opened at $45.84 on Friday. The firm has a 50 day moving average of $46.72 and a 200-day moving average of $42.49. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 3.18 and a beta of 1.48. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $66.06.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a return on equity of 18.03% and a net margin of 14.68%.The firm had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast 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.