Park State Asset Management Makes New Investment in Trex Company, Inc. $TREX

Park State Asset Management purchased a new stake in Trex Company, Inc. (NYSE:TREX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 70,001 shares of the construction company's stock, valued at approximately $3,503,000. Trex makes up about 3.4% of Park State Asset Management's portfolio, making the stock its 11th largest holding. Park State Asset Management owned approximately 0.07% of Trex at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Clearstead Trust LLC bought a new position in shares of Trex in the fourth quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new stake in Trex in the first quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. bought a new stake in Trex during the fourth quarter valued at approximately $47,000. Empowered Funds LLC bought a new stake in Trex during the fourth quarter valued at approximately $50,000. Finally, Versant Capital Management Inc purchased a new position in Trex in the 2nd quarter worth approximately $58,000. Institutional investors own 95.96% of the company's stock.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research analyst reports. Barclays reissued an "underweight" rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. Zacks Research upgraded shares of Trex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Bank of America increased their target price on Trex from $42.00 to $44.00 and gave the company an "underperform" rating in a research note on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price target on Trex and gave the company a "hold" rating in a research report on Tuesday, August 11th. Finally, UBS Group reaffirmed a "buy" rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $49.30.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the transaction, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction 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. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.93% of the stock is currently owned by insiders.

Trex Stock Performance

Shares of Trex stock opened at $47.69 on Wednesday. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $66.06. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 3.43 and a beta of 1.48. The company's 50 day moving average price is $46.57 and its 200-day moving average price is $42.24.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The firm had revenue of $418.02 million during the quarter, compared to analysts' expectations of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, equities research analysts forecast that Trex Company, Inc. will post 1.76 earnings per share 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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