Deutsche Bank AG Acquires New Holdings in Trex Company, Inc. $TREX

Deutsche Bank AG bought a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 313,232 shares of the construction company's stock, valued at approximately $15,674,000. Deutsche Bank AG owned about 0.30% of Trex at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Wellington Management Group LLP lifted its holdings in shares of Trex by 266.0% during the fourth quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company's stock worth $253,467,000 after purchasing an additional 5,251,297 shares during the period. AQR Capital Management LLC grew its stake in shares of Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company's stock worth $136,655,000 after purchasing an additional 2,297,533 shares during the last quarter. Norges Bank acquired a new stake in Trex in the fourth quarter valued at $62,904,000. Freestone Grove Partners LP acquired a new stake in Trex in the fourth quarter valued at $53,951,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Trex by 120.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,326,379 shares of the construction company's stock worth $46,529,000 after purchasing an additional 725,090 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TREX shares. Stephens lifted their target price on Trex from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Barclays reissued an "underweight" rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Truist Financial lifted their price objective on Trex from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Weiss Ratings cut Trex from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. Finally, BMO Capital Markets set a $57.00 target price on Trex in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Trex has an average rating of "Hold" and an average price target of $49.30.

Trex Price Performance

Shares of Trex stock opened at $46.80 on Friday. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06. The stock's 50-day moving average is $46.72 and its 200 day moving average is $42.36. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.23 and a beta of 1.48.

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 return on equity of 18.03% and a net margin of 14.68%.The business had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Trex 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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