723,354 Shares in Trex Company, Inc. $TREX Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 723,354 shares of the construction company’s stock, valued at approximately $36,197,000. Freestone Grove Partners LP owned about 0.70% of Trex as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. M&T Bank Corp purchased a new stake in shares of Trex in the fourth quarter worth about $917,000. State of New Jersey Common Pension Fund D increased its stake in Trex by 76.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 69,509 shares of the construction company’s stock worth $2,438,000 after acquiring an additional 30,191 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Trex by 46.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 84,170 shares of the construction company’s stock worth $2,953,000 after acquiring an additional 26,818 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Trex by 32.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,098,189 shares of the construction company’s stock valued at $38,524,000 after acquiring an additional 266,580 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Trex by 26.6% in the first quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock worth $4,710,000 after purchasing an additional 27,189 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Transactions at Trex

In related news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president owned 36,631 shares of the company’s stock, valued at $1,831,550. The trade was a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

TREX has been the subject of a number of recent research reports. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays restated an “underweight” rating and set a $42.00 target price (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. The Goldman Sachs Group reiterated 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. Citigroup restated a “neutral” rating and set a $52.00 price objective (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. Finally, Zacks Research raised Trex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $49.30.

Trex Stock Performance

TREX opened at $46.75 on Thursday. The stock’s 50 day moving average price is $46.76 and its 200-day moving average price is $42.45. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 3.23 and a beta of 1.48.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) 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 business had revenue of $418.02 million for the quarter, compared to the consensus estimate of $415.71 million. During the same period in the prior year, the business posted $0.71 earnings per share. Trex’s revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Trex Company, Inc. will post 1.76 earnings per share 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.