Corient Private Wealth LP Makes New $2.75 Million Investment in Trex Company, Inc. $TREX

Corient Private Wealth LP purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 54,939 shares of the construction company’s stock, valued at approximately $2,749,000.

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

Trex Price Performance

TREX stock opened at $43.38 on Wednesday. The firm has a 50 day simple moving average of $46.66 and a two-hundred day simple moving average of $42.48. The stock has a market cap of $4.51 billion, a PE ratio of 25.82, a P/E/G ratio of 3.15 and a beta of 1.47. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06.

Trex (NYSE:TREX) last announced 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 for the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. On average, research analysts expect that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction 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 sale, the senior vice president owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TREX. Weiss Ratings lowered Trex from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. UBS Group reissued a “buy” rating and issued a $61.00 price target (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. The Goldman Sachs Group restated a “buy” rating and issued a $56.00 price objective (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Finally, Stephens boosted their price objective on shares of Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $49.30.

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.