Wesbanco Bank Inc. Takes $932,000 Position in Trex Company, Inc. $TREX

Key Points

• Wesbanco Bank opened a new position in Trex during the first quarter, buying 25,600 shares valued at about $932,000.
• Trex reported better-than-expected quarterly results, with EPS of $0.59 versus $0.51 expected and revenue of $343.4 million, up 1% year over year.
• Analyst sentiment is mixed: the stock has a Hold consensus rating with a $46.68 target price, even as some firms maintain Buy ratings and one insider recently sold shares under a pre-arranged trading plan.

Wesbanco Bank Inc. acquired a new stake in Trex Company, Inc. (NYSE:TREX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,600 shares of the construction company's stock, valued at approximately $932,000.

Several other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company's stock worth $320,000 after acquiring an additional 177 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Trex by 1.9% during the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company's stock worth $611,000 after purchasing an additional 214 shares during the period. Pinnacle Associates Ltd. boosted its position in Trex by 0.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company's stock worth $1,413,000 after purchasing an additional 285 shares during the period. Hsbc Holdings PLC grew its holdings in Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company's stock valued at $294,000 after purchasing an additional 322 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Trex by 0.7% in the third quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company's stock valued at $2,359,000 after purchasing an additional 333 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Up 0.3%

NYSE TREX opened at $49.87 on Monday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 10.10 and a beta of 1.51. The stock's 50 day moving average is $42.04 and its two-hundred day moving average is $40.10.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. On average, analysts predict that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the business's stock in a transaction on Thursday, June 25th. The stock was 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TREX. Truist Financial set a $55.00 price objective on shares of Trex and gave the stock a "buy" rating in a report on Monday, June 22nd. Bank of America cut their target price on shares of Trex from $43.00 to $42.00 and set an "underperform" rating for the company in a research report on Monday, April 20th. DA Davidson reaffirmed a "buy" rating and issued a $51.00 price target on shares of Trex in a research report on Friday, June 5th. UBS Group reiterated a "buy" rating and issued a $59.00 price objective (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Finally, Barclays reissued an "underweight" rating and set a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Trex presently has a consensus rating of "Hold" and a consensus target price of $46.68.

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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