BlackRock Inc. purchased a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,493,216 shares of the construction company's stock, valued at approximately $525,081,000. BlackRock Inc. owned approximately 10.10% of Trex as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of TREX. AQR Capital Management LLC increased its stake 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 valued at $320,000 after acquiring an additional 177 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company's stock worth $47,803,000 after acquiring an additional 392,715 shares during the period. Hsbc Holdings PLC raised its stake in shares of Trex by 6.3% in the 2nd quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company's stock valued at $294,000 after purchasing an additional 322 shares during the period. First Trust Advisors LP raised its position in Trex by 535.1% in the 2nd quarter. First Trust Advisors LP now owns 22,038 shares of the construction company's stock valued at $1,198,000 after buying an additional 18,568 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Trex during the 2nd quarter worth approximately $1,055,000. 95.96% of the stock is currently owned by institutional investors.
Insider Transactions at Trex
In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the sale, the senior vice president owned 67,794 shares in the company, valued at $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the senior vice president directly owned 36,631 shares of the company's stock, valued at approximately $1,831,550. The trade was a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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
A number of research firms have recently issued reports on TREX. BMO Capital Markets set a $57.00 price objective on shares of Trex in a report on Wednesday, August 5th. DA Davidson restated a "buy" rating and set a $55.00 target price on shares of Trex in a report on Tuesday, July 14th. Truist Financial raised their target price on shares of Trex from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price target on shares of Trex and gave the company a "hold" rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of Trex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $49.30.
Read Our Latest Analysis on Trex
Trex Price Performance
Shares of TREX stock opened at $47.27 on Tuesday. The stock has a market cap of $4.91 billion, a P/E ratio of 28.14, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a fifty day moving average price of $46.74 and a two-hundred day moving average price of $42.40. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06.
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). The firm had revenue of $418.02 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. As a group, equities research analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.
About Trex
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company, Inc. (NYSE:TREX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Trex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trex wasn't on the list.
While Trex currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
