Trex Company, Inc. $TREX Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Trex Company by 280% during Q2, holding 7,588 shares worth $413,000.
• Several institutional investors notably increased their positions in Trex, with Price T Rowe Associates growing its holdings by 132.8% to over 7.2 million shares.
• Trex's recent earnings report indicated higher revenues of $387.80 million, surpassing estimates, and earnings per share of $0.74, slightly above the consensus of $0.72.

Fifth Third Bancorp grew its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 280.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,588 shares of the construction company's stock after purchasing an additional 5,591 shares during the period. Fifth Third Bancorp's holdings in Trex were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TREX. Price T Rowe Associates Inc. MD increased its holdings in shares of Trex by 132.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company's stock valued at $424,007,000 after purchasing an additional 4,163,014 shares during the period. Madison Asset Management LLC acquired a new position in Trex during the first quarter worth $109,852,000. American Century Companies Inc. grew its holdings in Trex by 66.1% during the first quarter. American Century Companies Inc. now owns 1,972,125 shares of the construction company's stock worth $114,580,000 after acquiring an additional 784,820 shares during the period. Wellington Management Group LLP acquired a new position in Trex during the first quarter worth $39,646,000. Finally, Natixis Advisors LLC grew its holdings in Trex by 1,286.3% during the first quarter. Natixis Advisors LLC now owns 707,843 shares of the construction company's stock worth $41,126,000 after acquiring an additional 656,783 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Insiders Place Their Bets

In related news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total transaction of $98,708.84. Following the transaction, the senior vice president directly owned 22,953 shares in the company, valued at approximately $1,473,123.54. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TREX. UBS Group reaffirmed a "neutral" rating and set a $74.00 price objective (up previously from $72.00) on shares of Trex in a report on Tuesday, August 5th. Wall Street Zen raised Trex from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird raised Trex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. DA Davidson set a $65.00 price objective on Trex and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Baird R W raised Trex from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trex presently has an average rating of "Moderate Buy" and an average target price of $71.93.

Trex Stock Up 0.1%

Shares of NYSE:TREX opened at $51.32 on Tuesday. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $80.74. The stock's fifty day simple moving average is $61.13 and its 200-day simple moving average is $58.80. The company has a market capitalization of $5.50 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.14 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last released its earnings results 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 return on equity of 21.27% and a net margin of 16.53%.The firm had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.49 million. During the same period in the prior year, the business posted $0.80 earnings per share. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. Trex has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Trex 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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