Principal Financial Group Inc. Acquires 219,813 Shares of Trex Company, Inc. $TREX

Principal Financial Group Inc. grew its holdings in Trex Company, Inc. (NYSE:TREX) by 35.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 831,609 shares of the construction company’s stock after purchasing an additional 219,813 shares during the quarter. Principal Financial Group Inc.’s holdings in Trex were worth $42,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its stake 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 buying an additional 164 shares during the period. AQR Capital Management LLC lifted its position 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 valued at $320,000 after acquiring an additional 177 shares during the period. ProShare Advisors LLC lifted its position in shares of Trex by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock valued at $259,000 after acquiring an additional 189 shares during the period. Louisiana State Employees Retirement System boosted its stake in Trex by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the construction company’s stock worth $1,642,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in Trex by 0.8% in the second quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock worth $1,404,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Up 3.3%

Shares of NYSE:TREX opened at $43.81 on Thursday. The business’s 50 day moving average is $38.11 and its 200 day moving average is $47.95. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $73.56. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 23.81 and a beta of 1.58.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). The company had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. Trex’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. As a group, equities research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TREX shares. B. Riley reiterated a “buy” rating and set a $57.00 price objective (down previously from $80.00) on shares of Trex in a report on Wednesday, November 5th. UBS Group set a $52.00 price target on Trex and gave the stock a “buy” rating in a report on Tuesday, January 6th. Bank of America reissued an “underperform” rating and issued a $36.00 price objective (down previously from $67.00) on shares of Trex in a research note on Wednesday, November 5th. DA Davidson raised Trex from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.00 to $50.00 in a research report on Monday, January 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $54.00 target price on shares of Trex in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.25.

Insider Activity at Trex

In other news, CFO Prithvi Gandhi bought 15,000 shares of the stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,664 shares in the company, valued at approximately $978,794.88. This trade represents a 95.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

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.