135,031 Shares in Trex Company, Inc. $TREX Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 135,031 shares of the construction company’s stock, valued at approximately $6,757,000. Legal & General Group Plc owned approximately 0.13% of Trex at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new position in shares of Trex in the fourth quarter worth $33,000. Versant Capital Management Inc bought a new stake in Trex during the second quarter valued at $58,000. Ascentis Independent Advisors purchased a new position in Trex during the first quarter worth about $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex during the fourth quarter worth about $47,000. Finally, Empowered Funds LLC bought a new position in Trex in the 4th quarter worth about $50,000. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TREX shares. BMO Capital Markets set a $57.00 price target on Trex in a research report on Wednesday, August 5th. Stephens upped their price objective on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a research note on Friday, July 10th. Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average target price of $49.30.

Trex Stock Up 0.8%

Shares of NYSE:TREX opened at $43.68 on Thursday. The stock has a market cap of $4.54 billion, a PE ratio of 26.00, a PEG ratio of 2.99 and a beta of 1.47. The company’s fifty day moving average is $46.56 and its 200 day moving average is $42.49. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $66.06.

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

Insider Activity

In related news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction that occurred 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 directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

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.