TD Asset Management Inc Sells 558,606 Shares of Trex Company, Inc. $TREX

Key Points

• TD Asset Management Inc significantly reduced its stake in Trex Company, Inc. by selling 558,606 shares, which represents a 94% decrease in their holdings during the second quarter.
• Multiple institutional investors have recently adjusted their positions in Trex, with a total of 95.96% of the stock now owned by institutional investors.
• Trex reported earnings per share of $0.74 for the last quarter, surpassing analysts' expectations and indicating a 3% increase in revenue compared to the previous year.

TD Asset Management Inc trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 94.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,740 shares of the construction company's stock after selling 558,606 shares during the quarter. TD Asset Management Inc's holdings in Trex were worth $1,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TREX. Armstrong Advisory Group Inc. bought a new position in Trex during the second quarter worth $31,000. Parallel Advisors LLC boosted its position in Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company's stock worth $57,000 after purchasing an additional 232 shares during the period. Brooklyn Investment Group boosted its position in Trex by 35,733.3% during the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company's stock worth $62,000 after purchasing an additional 1,072 shares during the period. CWM LLC boosted its position in Trex by 16.8% during the second quarter. CWM LLC now owns 1,141 shares of the construction company's stock worth $62,000 after purchasing an additional 164 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Trex by 41.4% in the second quarter. UMB Bank n.a. now owns 1,168 shares of the construction company's stock valued at $64,000 after acquiring an additional 342 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the subject of a number of recent research reports. Wall Street Zen raised shares of Trex from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. The Goldman Sachs Group reduced their target price on shares of Trex from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, October 13th. UBS Group reissued a "neutral" rating and issued a $74.00 target price (up previously from $72.00) on shares of Trex in a research report on Tuesday, August 5th. Weiss Ratings reissued a "hold (c-)" rating on shares of Trex in a research report on Wednesday, October 8th. Finally, DA Davidson set a $60.00 target price on shares of Trex and gave the company a "neutral" rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Trex currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.71.

Trex Stock Up 2.0%

TREX opened at $51.28 on Wednesday. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74. The company has a 50-day simple moving average of $57.11 and a 200 day simple moving average of $58.03. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 2.10 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The business had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. Trex's revenue was up 3.0% compared to the same quarter last year. Trex has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Amy M. Fernandez sold 1,538 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the completion of the sale, the senior vice president owned 22,953 shares of the company's stock, valued at $1,473,123.54. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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