135,031 Shares in Trex Company, Inc. $TREX Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, HoldingsChannel.com reports. The firm purchased 135,031 shares of the construction company’s stock, valued at approximately $6,757,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TREX. AQR Capital Management LLC lifted its holdings in Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after buying an additional 177 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Trex by 1.9% during the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock valued at $611,000 after buying an additional 214 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Trex by 0.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock valued at $1,413,000 after buying an additional 285 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock valued at $294,000 after acquiring an additional 322 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its holdings in shares of Trex by 5.4% during the third quarter. Nicolet Advisory Services LLC now owns 9,276 shares of the construction company’s stock valued at $488,000 after acquiring an additional 478 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were 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 $3,394,445.58. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by insiders.

Trex Stock Performance

TREX stock opened at $43.68 on Thursday. The firm has a 50 day moving average price of $46.56 and a 200-day moving average price of $42.49. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $66.06. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.99 and a beta of 1.47.

Trex (NYSE:TREX) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $415.71 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

TREX has been the subject of a number of research analyst reports. Barclays reaffirmed an “underweight” rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Stephens raised their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. Finally, DA Davidson reiterated a “buy” rating and set a $55.00 price target on shares of Trex in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.30.

About Trex

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.