599,679 Shares in Trex Company, Inc. $TREX Bought by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. bought a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 599,679 shares of the construction company's stock, valued at approximately $30,008,000. Alyeska Investment Group L.P. owned approximately 0.58% of Trex as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Van Den Berg Management I Inc. grew its stake in Trex by 1.5% in the 2nd quarter. Van Den Berg Management I Inc. now owns 86,107 shares of the construction company's stock valued at $4,309,000 after acquiring an additional 1,236 shares during the last quarter. Wellington Management Group LLP increased its holdings in Trex by 18.2% during the 2nd quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company's stock valued at $494,251,000 after acquiring an additional 1,518,338 shares in the last quarter. Empowered Funds LLC acquired a new position in Trex during the second quarter worth about $446,000. Hill City Capital LP purchased a new stake in shares of Trex in the second quarter valued at about $27,522,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Trex in the second quarter valued at about $3,176,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $51.00 price objective (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. Bank of America upped their target price on Trex from $42.00 to $44.00 and gave the company an "underperform" rating in a research note on Tuesday, July 14th. BMO Capital Markets set a $57.00 target price on Trex in a report on Wednesday, August 5th. UBS Group reissued a "buy" rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Weiss Ratings downgraded Trex from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $49.30.

Trex Stock Up 0.2%

TREX stock opened at $45.84 on Monday. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $66.06. The stock's fifty day simple moving average is $46.72 and its 200-day simple moving average is $42.48. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 3.16 and a beta of 1.48.

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

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the firm's 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 sale, the senior vice president directly owned 36,631 shares of the company's stock, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction 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. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.93% of the stock is owned by insiders.

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.

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