Corient Private Wealth LP Makes New Investment in Trex Company, Inc. $TREX

Corient Private Wealth LP purchased a new stake in Trex Company, Inc. (NYSE:TREX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,939 shares of the construction company's stock, valued at approximately $2,749,000. Corient Private Wealth LP owned approximately 0.05% of Trex at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TREX. AQR Capital Management LLC increased its position in 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 buying an additional 177 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Trex by 1.9% in the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company's stock worth $611,000 after acquiring an additional 214 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Trex by 0.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company's stock valued at $1,413,000 after acquiring an additional 285 shares during the period. Hsbc Holdings PLC grew its stake in Trex by 6.3% in the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company's stock valued at $294,000 after acquiring an additional 322 shares during the period. Finally, Nicolet Advisory Services LLC increased its holdings in shares of Trex by 5.4% during the third quarter. Nicolet Advisory Services LLC now owns 9,276 shares of the construction company's stock valued at $488,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Stock Down 4.8%

Shares of NYSE TREX opened at $43.38 on Wednesday. The company has a market capitalization of $4.51 billion, a PE ratio of 25.82, a PEG ratio of 3.15 and a beta of 1.47. The stock's 50 day moving average price is $46.66 and its 200-day moving average price is $42.48. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $415.71 million. During the same period in the previous year, the business posted $0.71 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Amy M. Fernandez sold 1,050 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president owned 36,631 shares of the company's stock, valued at $1,831,550. This trade represents a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TREX shares. BMO Capital Markets set a $57.00 price target on shares of Trex in a research report on Wednesday, August 5th. Zelman & Associates raised shares of Trex from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, May 18th. Stephens lifted their price objective on shares of Trex from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Barclays reissued an "underweight" rating and set a $42.00 target price (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $51.00 target price (up from $41.00) on shares of Trex in a 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 given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $49.30.

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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