EFG International AG Acquires Shares of 143,826 Trex Company, Inc. $TREX

EFG International AG acquired a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 143,826 shares of the construction company’s stock, valued at approximately $7,197,000.

A number of other institutional investors have also recently modified their holdings of TREX. Clearstead Trust LLC purchased a new stake in shares of Trex in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc acquired a new stake in Trex in the 2nd quarter valued at $58,000. Ascentis Independent Advisors acquired a new stake in Trex in the 1st quarter valued at $44,000. Eurizon Capital SGR S.p.A. purchased a new stake in Trex in the 4th quarter worth $47,000. Finally, Empowered Funds LLC acquired a new position in Trex during the fourth quarter worth $50,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’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 completion of the sale, the senior vice president directly owned 36,631 shares of the company’s stock, valued at $1,831,550. This trade represents a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens upped their price target on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group restated a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Weiss Ratings cut Trex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Stifel Nicolaus set a $49.00 price objective on Trex and gave the company a “hold” rating in a research note on Tuesday, August 11th. Finally, Truist Financial lifted their target price on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.30.

Trex Price Performance

TREX opened at $46.93 on Wednesday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 3.26 and a beta of 1.48. The company’s 50 day simple moving average is $46.74 and its two-hundred day simple moving average is $42.42. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $66.06.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The company had revenue of $418.02 million during the quarter, compared to analysts’ expectations of $415.71 million. During the same quarter last year, the company earned $0.71 earnings per share. Trex’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

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.