Alden Global Capital LLC Purchases New Shares in Trex Company, Inc. $TREX

Alden Global Capital LLC purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, HoldingsChannel reports. The firm purchased 57,000 shares of the construction company’s stock, valued at approximately $2,000,000. Trex makes up 0.9% of Alden Global Capital LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Trex during the fourth quarter valued at $27,000. Clearstead Trust LLC acquired a new stake in shares of Trex in the fourth quarter valued at about $33,000. Rothschild Investment LLC acquired a new stake in shares of Trex in the third quarter valued at about $60,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Trex in the fourth quarter valued at about $47,000. Finally, Empowered Funds LLC acquired a new stake in shares of Trex in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Trading Down 3.1%

NYSE:TREX opened at $45.42 on Thursday. The company’s 50-day moving average price is $40.81 and its 200-day moving average price is $39.46. The company has a market cap of $4.72 billion, a P/E ratio of 25.38, a P/E/G ratio of 9.50 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78.

Trex (NYSE:TREX) last posted its quarterly earnings results 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 firm had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts expect that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Barclays reiterated an “underweight” rating and issued a $36.00 target price (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. UBS Group reiterated a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Finally, Bank of America dropped their target price on shares of Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $46.42.

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.