Havemeyer Place LP Takes Position in Trex Company, Inc. $TREX

Havemeyer Place LP purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 40,404 shares of the construction company’s stock, valued at approximately $1,417,000.

Several other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in shares of Trex by 1.9% during the third quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock valued at $389,795,000 after buying an additional 142,215 shares during the period. American Century Companies Inc. grew its stake in Trex by 2.5% in the third quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock valued at $113,233,000 after purchasing an additional 53,554 shares during the last quarter. Wellington Management Group LLP grew its stake in Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock valued at $102,002,000 after purchasing an additional 917,448 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after acquiring an additional 932,247 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Trex by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock worth $67,132,000 after acquiring an additional 24,892 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TREX shares. Stifel Nicolaus lifted their target price on Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, May 11th. DA Davidson reaffirmed a “buy” rating and set a $51.00 target price on shares of Trex in a report on Friday. Loop Capital raised Trex from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $53.00 in a report on Wednesday, February 25th. UBS Group reaffirmed a “buy” rating and set a $59.00 target price (up from $58.00) on shares of Trex in a report on Friday, May 8th. Finally, Barclays reaffirmed an “underweight” rating and set a $36.00 target price (up from $35.00) on shares of Trex in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $46.42.

Trex Price Performance

Trex stock opened at $39.79 on Monday. The stock has a market capitalization of $4.13 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 8.03 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78. The business has a 50 day simple moving average of $39.37 and a 200-day simple moving average of $38.75.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $343.40 million for the quarter, compared to analyst estimates of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, equities research analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.

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.