Alliancebernstein L.P. Sells 2,776,504 Shares of Trex Company, Inc. $TREX

Key Points

• Alliancebernstein L.P. has reduced its stake in Trex Company, Inc. by 25.7%, selling 2,776,504 shares to hold 8,042,822 shares, valued at approximately $467.3 million.
• Trex reported earnings of $0.74 EPS for the last quarter, surpassing analyst expectations, with a revenue increase of 3.0% year-over-year.
• Several hedge funds, including Brooklyn Investment Group and Blue Trust Inc., have recently increased their holdings in Trex, reflecting a strong interest from institutional investors who now own 95.96% of the company's stock.

Alliancebernstein L.P. reduced its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,042,822 shares of the construction company's stock after selling 2,776,504 shares during the quarter. Alliancebernstein L.P. owned approximately 7.50% of Trex worth $467,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC boosted its holdings in shares of Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company's stock worth $320,000 after acquiring an additional 177 shares in the last quarter. Amundi boosted its holdings in shares of Trex by 8.0% in the 1st quarter. Amundi now owns 279,864 shares of the construction company's stock worth $15,577,000 after acquiring an additional 20,752 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Trex by 534.0% in the 1st quarter. Royal Bank of Canada now owns 668,280 shares of the construction company's stock worth $38,828,000 after acquiring an additional 562,877 shares in the last quarter. Quarry LP acquired a new position in shares of Trex in the 1st quarter worth approximately $78,000. Finally, Night Squared LP acquired a new position in shares of Trex in the 1st quarter worth approximately $4,342,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TREX has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, May 12th. Stephens reduced their price objective on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Robert W. Baird raised Trex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. B. Riley raised Trex to a "strong-buy" rating in a report on Monday, July 21st. Finally, UBS Group reaffirmed a "neutral" rating and set a $74.00 price objective (up previously from $72.00) on shares of Trex in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Trex presently has a consensus rating of "Moderate Buy" and an average target price of $71.93.

Trex Stock Up 3.6%

Shares of TREX traded up $2.25 during trading hours on Friday, reaching $64.51. The stock had a trading volume of 1,257,667 shares, compared to its average volume of 1,601,019. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $80.74. The firm has a 50-day moving average of $62.56 and a 200 day moving average of $59.17. The company has a market cap of $6.92 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.60 and a beta of 1.51.

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

Insider Transactions at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total transaction of $98,708.84. Following the completion of the transaction, the senior vice president owned 22,953 shares in the company, valued at approximately $1,473,123.54. This represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.71% of the company's stock.

Trex Profile

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.