69,467 Shares in Trex Company, Inc. $TREX Acquired by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in Trex Company, Inc. (NYSE:TREX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,467 shares of the construction company’s stock, valued at approximately $3,589,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Trex during the 3rd quarter valued at $31,000. Rothschild Investment LLC bought a new stake in shares of Trex in the 3rd quarter worth $60,000. Clearstead Advisors LLC lifted its holdings in shares of Trex by 91.8% in the third quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock valued at $78,000 after buying an additional 718 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Trex by 662.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock valued at $78,000 after buying an additional 1,318 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Trex by 37.1% during the third quarter. GAMMA Investing LLC now owns 1,999 shares of the construction company’s stock valued at $103,000 after buying an additional 541 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Up 2.4%

NYSE:TREX opened at $38.17 on Thursday. The stock has a fifty day simple moving average of $41.21 and a 200 day simple moving average of $43.97. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 8.56 and a beta of 1.58. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The firm had revenue of $161.13 million for the quarter, compared to the consensus estimate of $144.39 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on TREX. Zacks Research raised Trex from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Wolfe Research raised shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research note on Wednesday, January 7th. Stifel Nicolaus set a $37.50 target price on shares of Trex and gave the stock a “hold” rating in a report on Monday, February 23rd. Finally, The Goldman Sachs Group set a $54.00 target price on shares of Trex and gave the company a “buy” rating in a research note on Tuesday, December 16th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.78.

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.