Park State Asset Management Acquires Shares of 70,001 Trex Company, Inc. $TREX

Park State Asset Management acquired a new position in Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, Holdings Channel reports. The firm acquired 70,001 shares of the construction company’s stock, valued at approximately $3,503,000. Trex accounts for approximately 3.4% of Park State Asset Management’s investment portfolio, making the stock its 11th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Trex in the fourth quarter worth about $33,000. Versant Capital Management Inc bought a new stake in Trex in the second quarter worth $58,000. Ascentis Independent Advisors bought a new position in Trex in the 1st quarter worth about $44,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Trex in the fourth quarter worth approximately $47,000. Finally, Empowered Funds LLC bought a new stake in shares of Trex during the fourth quarter valued at approximately $50,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were 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 $1,831,550. This represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 completion of the transaction, the senior vice president owned 67,794 shares in the company, valued at $3,394,445.58. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TREX shares. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. DA Davidson reissued a “buy” rating and issued a $55.00 target price on shares of Trex in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 target price (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 price target (up from $49.00) on shares of Trex in a report on Friday, July 10th. Finally, Barclays reaffirmed an “underweight” rating and set a $42.00 price objective (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.30.

Trex Price Performance

TREX stock opened at $47.69 on Wednesday. The company has a market cap of $4.96 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 3.43 and a beta of 1.48. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The stock’s fifty day moving average price is $46.57 and its 200-day moving average price is $42.24.

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