Confluence Investment Management LLC Sells 36,316 Shares of Trex Company, Inc. $TREX

Key Points

• Confluence Investment Management reduced its Trex stake by 9.3%, selling 36,316 shares and retaining 354,325 shares valued at approximately $17.73 million. Institutional investors collectively own 95.96% of the company.
• Trex reported quarterly EPS of $0.59, exceeding analysts’ $0.51 estimate, while revenue reached $343.4 million, up 1% year over year.
• Analyst sentiment remains mixed, with Trex carrying an average “Hold” rating and a $49.15 consensus price target; recent targets range from $44 to $60.

Confluence Investment Management LLC lessened its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 354,325 shares of the construction company's stock after selling 36,316 shares during the quarter. Confluence Investment Management LLC owned approximately 0.34% of Trex worth $17,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in Trex by 77.6% in the first quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company's stock worth $77,000 after acquiring an additional 926 shares during the period. First Nebraska Trust Co bought a new position in Trex during the 1st quarter worth about $1,993,000. Essential Partners LLC increased its position in Trex by 24.6% during the 1st quarter. Essential Partners LLC now owns 3,383 shares of the construction company's stock valued at $123,000 after purchasing an additional 669 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Trex by 43.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,865 shares of the construction company's stock valued at $214,000 after purchasing an additional 1,781 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Trex by 26.6% in the 1st quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company's stock worth $4,710,000 after purchasing an additional 27,189 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the 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 owned 36,631 shares of the company's stock, valued at $1,831,550. This represents a 3.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by insiders.

Trex Stock Up 3.1%

Trex stock opened at $44.69 on Tuesday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.98 and a beta of 1.48. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $66.36. The business's 50-day moving average price is $44.93 and its 200 day moving average price is $41.78.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Equities analysts expect that Trex Company, Inc. will post 1.78 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TREX shares. Wall Street Zen upgraded Trex from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Bank of America boosted their price objective on shares of Trex from $42.00 to $44.00 and gave the stock an "underperform" rating in a research note on Tuesday, July 14th. Truist Financial increased 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. DA Davidson restated a "buy" rating and issued a $55.00 target price on shares of Trex in a research note on Tuesday, July 14th. Finally, Stephens lifted their price target on shares of Trex from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Trex presently has an average rating of "Hold" and an average price target of $49.15.

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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