T. Rowe Price Investment Management Inc. Takes Position in Trex Company, Inc. $TREX

Key Points

• T. Rowe Price Investment Management Inc. acquired 179,690 shares of Trex Company, Inc., valued at approximately $10.44 million, representing about 0.17% of the company.
• Several institutional investors increased their stakes in Trex, with Balyasny Asset Management L.P. boosting its holdings by 86.3%, bringing their total to 2,029,034 shares.
• Analysts have generally upgraded Trex's stock rating, with a consensus rating of "Moderate Buy" and an average target price of $71.93.

T. Rowe Price Investment Management Inc. bought a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 179,690 shares of the construction company's stock, valued at approximately $10,440,000. T. Rowe Price Investment Management Inc. owned approximately 0.17% of Trex at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TREX. Madison Asset Management LLC acquired a new position in Trex during the first quarter worth $109,852,000. Balyasny Asset Management L.P. boosted its holdings in shares of Trex by 86.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after purchasing an additional 939,960 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Trex by 87.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,916,134 shares of the construction company's stock worth $132,271,000 after buying an additional 893,675 shares during the period. American Century Companies Inc. raised its position in shares of Trex by 66.1% in the 1st quarter. American Century Companies Inc. now owns 1,972,125 shares of the construction company's stock worth $114,580,000 after buying an additional 784,820 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Trex in the first quarter valued at about $39,646,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TREX has been the topic of several research reports. Loop Capital reissued a "hold" rating and issued a $66.00 price objective on shares of Trex in a research report on Tuesday, August 5th. Stephens decreased their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Baird R W raised Trex from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, DA Davidson set a $65.00 price objective on Trex and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.93.

Trex Price Performance

Shares of TREX traded down $1.42 during mid-day trading on Friday, reaching $61.44. The company had a trading volume of 768,966 shares, compared to its average volume of 1,619,611. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74. The company's 50-day moving average is $61.74 and its 200-day moving average is $59.42. The company has a market capitalization of $6.59 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.65 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The business's revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Trex has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

In related news, SVP Amy M. Fernandez sold 1,538 shares of Trex stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total value of $98,708.84. Following the sale, the senior vice president owned 22,953 shares of the company's stock, valued at approximately $1,473,123.54. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.