Canada Pension Plan Investment Board Makes New $1.96 Million Investment in Trex Company, Inc. $TREX

Canada Pension Plan Investment Board bought a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 39,100 shares of the construction company's stock, valued at approximately $1,957,000.

A number of other institutional investors also recently modified their holdings of TREX. BlackRock Inc. bought a new position in Trex during the second quarter worth about $525,081,000. Wellington Management Group LLP boosted its holdings in Trex by 266.0% in the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company's stock valued at $253,467,000 after purchasing an additional 5,251,297 shares during the period. AQR Capital Management LLC boosted its holdings in Trex by 143.8% in the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company's stock valued at $136,655,000 after purchasing an additional 2,297,533 shares during the period. Norges Bank acquired a new position in shares of Trex during the 4th quarter worth approximately $62,904,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Trex during the 4th quarter worth approximately $53,951,000. Institutional investors own 95.96% of the company's stock.

Trex Price Performance

Shares of NYSE:TREX opened at $45.84 on Monday. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. 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. The company's 50 day simple moving average is $46.72 and its 200 day simple moving average is $42.48.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share 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 analyst estimates of $415.71 million. During the same period in the prior year, the business posted $0.71 EPS. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of analyst reports. Bank of America lifted their price target on shares of Trex from $42.00 to $44.00 and gave the company an "underperform" rating in a research report on Tuesday, July 14th. BMO Capital Markets set a $57.00 price target on Trex in a research report on Wednesday, August 5th. Wall Street Zen upgraded Trex from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Zacks Research raised Trex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Finally, DA Davidson reiterated a "buy" rating and set a $55.00 target price on shares of Trex in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.30.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the company'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 transaction of $70,000.00. Following the completion of the transaction, the senior vice president directly owned 36,631 shares in the company, valued at $1,831,550. This represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. 0.93% of the stock is owned by corporate insiders.

About Trex

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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