Ieq Capital LLC Purchases New Stake in Trex Company, Inc. $TREX

Ieq Capital LLC purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 78,944 shares of the construction company’s stock, valued at approximately $3,950,000. Ieq Capital LLC owned approximately 0.08% of Trex at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Heron Bay Capital Management bought a new position in shares of Trex in the second quarter valued at $23,030,000. Callan Family Office LLC bought a new stake in shares of Trex during the second quarter worth about $299,000. Green Alpha Advisors LLC bought a new stake in shares of Trex during the second quarter worth about $888,000. Allworth Financial LP acquired a new stake in shares of Trex in the 2nd quarter worth about $339,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Trex in the 2nd quarter worth about $3,120,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In other news, 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 transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction dated 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 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 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $55.00 target price on shares of Trex in a research report on Tuesday, July 14th. BMO Capital Markets set a $57.00 price objective on Trex in a research note on Wednesday, August 5th. Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Monday, May 18th. Finally, Truist Financial increased their target price on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.30.

Trex Stock Up 0.9%

Shares of NYSE TREX opened at $47.27 on Tuesday. The company has a market capitalization of $4.91 billion, a PE ratio of 28.14, a PEG ratio of 3.23 and a beta of 1.48. The stock’s 50 day moving average price is $46.74 and its 200-day moving average price is $42.40. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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 revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, research analysts expect that Trex Company, Inc. will post 1.76 EPS 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.