Trex Company, Inc. $TREX Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Trex Company, Inc. (NYSE:TREX) by 97.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,812 shares of the construction company’s stock after buying an additional 33,991 shares during the period. Hsbc Holdings PLC’s holdings in Trex were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TREX. V Square Quantitative Management LLC purchased a new stake in shares of Trex during the fourth quarter valued at $27,000. Clearstead Trust LLC purchased a new position in Trex in the 4th quarter worth $33,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex in the 4th quarter worth $47,000. Empowered Funds LLC acquired a new stake in Trex during the 4th quarter worth about $50,000. Finally, Clearstead Advisors LLC lifted its position in Trex by 91.8% during the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock worth $78,000 after acquiring an additional 718 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TREX. DA Davidson reissued a “buy” rating and issued a $51.00 price objective on shares of Trex in a report on Friday, June 5th. Truist Financial set a $55.00 target price on Trex and gave the stock a “buy” rating in a report on Monday, June 22nd. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Citigroup reiterated a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of Trex in a report on Monday, May 11th. Finally, Barclays reissued an “underweight” rating and set a $36.00 price target (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $46.68.

Trex Stock Up 0.0%

Trex stock opened at $49.73 on Tuesday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78. The business’s 50-day moving average price is $42.21 and its 200 day moving average price is $40.21.

Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. During the same period in the previous year, the company posted $0.60 earnings per share. Trex’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts expect that Trex Company, Inc. will post 1.68 EPS for the current year.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction that occurred on Thursday, June 25th. The shares were 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 of the company’s stock, valued at $1,831,550. The trade was a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company insiders.

Trex 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.