Wellington Management Group LLP Purchases 1,518,338 Shares of Trex Company, Inc. $TREX

Wellington Management Group LLP raised its holdings in Trex Company, Inc. (NYSE:TREX) by 18.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,877,116 shares of the construction company’s stock after buying an additional 1,518,338 shares during the quarter. Wellington Management Group LLP owned 0.10% of Trex worth $494,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Trex in the 2nd quarter valued at approximately $525,081,000. AQR Capital Management LLC boosted its stake in shares of Trex by 143.8% in the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after purchasing an additional 2,297,533 shares in the last quarter. Bank of America Corp DE acquired a new position in Trex in the second quarter valued at about $94,851,000. Norges Bank acquired a new position in shares of Trex in the 4th quarter worth approximately $62,904,000. Finally, Freestone Grove Partners LP acquired a new position in Trex in the fourth quarter worth $53,951,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 0.5%

Shares of NYSE TREX opened at $45.84 on Friday. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 3.16 and a beta of 1.48. The company’s fifty day moving average is $46.72 and its 200-day moving average is $42.49.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Trex in a research report on Tuesday, July 14th. Weiss Ratings cut shares of Trex from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group reiterated a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.30.

Insider Buying and Selling

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president owned 36,631 shares of the company’s stock, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,394,445.58. This trade 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.

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.