Osborne Partners Capital Management LLC Acquires Shares of 149,836 Trex Company, Inc. $TREX

Key Points

• Osborne Partners Capital Management LLC acquired a new stake of 149,836 shares of Trex (~$5.256 million), representing about 0.14% of the company according to its SEC filing.
• Analysts are mixed but the consensus rating is Hold with a consensus price target of $47.88, after several recent downgrades and price-target cuts.
• Trex beat Q4 estimates with EPS of $0.04 versus -$0.01 expected and revenue of $161.13 million (down 3.9% YoY), while shares recently traded around $43.55.

Osborne Partners Capital Management LLC acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 149,836 shares of the construction company's stock, valued at approximately $5,256,000. Osborne Partners Capital Management LLC owned about 0.14% of Trex as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TREX. Steigerwald Gordon & Koch Inc. bought a new position in shares of Trex in the third quarter worth about $31,000. V Square Quantitative Management LLC bought a new position in shares of Trex in the fourth quarter worth about $27,000. Rothschild Investment LLC bought a new position in shares of Trex in the third quarter worth about $60,000. Clearstead Advisors LLC grew its holdings in shares of Trex by 91.8% in the third quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company's stock worth $78,000 after purchasing an additional 718 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Trex by 662.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company's stock worth $78,000 after purchasing an additional 1,318 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Trex from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Weiss Ratings restated a "sell (d+)" rating on shares of Trex in a report on Friday, March 27th. Citigroup upped their price target on shares of Trex from $39.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, February 26th. Benchmark lowered shares of Trex from a "buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, Barclays lowered their price objective on shares of Trex from $39.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $47.88.

Trex Price Performance

NYSE:TREX opened at $43.55 on Tuesday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The company has a 50-day moving average of $39.24 and a 200 day moving average of $39.97. The firm has a market cap of $4.52 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 9.89 and a beta of 1.61.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The company had revenue of $161.13 million during the quarter, compared to analyst estimates of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts anticipate that Trex Company, Inc. will post 1.63 EPS for the current fiscal year.

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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