Trex Company, Inc. $TREX Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC grew its position in Trex Company, Inc. (NYSE:TREX) by 734.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,566 shares of the construction company’s stock after buying an additional 34,825 shares during the period. WCM Investment Management LLC’s holdings in Trex were worth $2,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new position in Trex in the third quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trex in the second quarter valued at $60,000. CWM LLC raised its position in Trex by 16.8% in the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after purchasing an additional 164 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Trex by 10,133.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock valued at $67,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Trex by 21.0% during the 2nd quarter. Blue Trust Inc. now owns 1,377 shares of the construction company’s stock worth $75,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Trading Up 2.1%

Trex stock opened at $42.38 on Wednesday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 23.03 and a beta of 1.58. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $73.56. The stock’s fifty day simple moving average is $37.93 and its 200-day simple moving average is $47.98.

Trex (NYSE:TREX) last released its earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). Trex had a return on equity of 21.90% and a net margin of 16.76%.The company had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity

In related news, CFO Prithvi Gandhi acquired 15,000 shares of the stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $31.92 per share, with a total value of $478,800.00. Following the completion of the transaction, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. This represents a 95.76% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Benchmark dropped their price target on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $54.00 price objective on shares of Trex and gave the stock a “buy” rating in a report on Tuesday, December 16th. Zacks Research downgraded shares of Trex from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.25.

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.