iSAM Funds UK Ltd Makes New $1.90 Million Investment in Trex Company, Inc. $TREX

iSAM Funds UK Ltd acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,908 shares of the construction company’s stock, valued at approximately $1,898,000.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Trex by 132.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company’s stock worth $424,007,000 after buying an additional 4,163,014 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Trex by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 2,137,918 shares of the construction company’s stock worth $116,260,000 after acquiring an additional 165,793 shares during the period. Geneva Capital Management LLC grew its holdings in shares of Trex by 7.6% during the 2nd quarter. Geneva Capital Management LLC now owns 1,722,606 shares of the construction company’s stock worth $93,675,000 after purchasing an additional 121,722 shares in the last quarter. Invesco Ltd. increased its position in shares of Trex by 2.7% during the first quarter. Invesco Ltd. now owns 1,154,134 shares of the construction company’s stock valued at $67,055,000 after purchasing an additional 30,861 shares during the period. Finally, Northern Trust Corp increased its position in shares of Trex by 6.2% during the first quarter. Northern Trust Corp now owns 1,014,023 shares of the construction company’s stock valued at $58,915,000 after purchasing an additional 59,202 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other Trex news, CFO Prithvi Gandhi acquired 15,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. This trade represents a 95.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TREX shares. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 price target (down previously from $61.00) on shares of Trex in a research note on Monday, November 10th. JPMorgan Chase & Co. reduced their price objective on shares of Trex from $71.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Barclays set a $32.00 target price on shares of Trex in a research note on Monday. B. Riley restated a “buy” rating and set a $57.00 price target (down previously from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $36.00 price objective (down from $67.00) on shares of Trex in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.37.

Trex Stock Down 0.5%

Shares of TREX stock opened at $34.34 on Tuesday. The company has a market capitalization of $3.68 billion, a P/E ratio of 18.67 and a beta of 1.58. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $80.74. The firm has a 50-day moving average price of $42.23 and a 200 day moving average price of $53.37.

Trex (NYSE:TREX) last posted 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). Trex had a return on equity of 21.90% and a net margin of 16.76%.The firm had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. During the same period in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.