Ontario Teachers Pension Plan Board Acquires New Stake in Trex Company, Inc. (NYSE:TREX)

Ontario Teachers Pension Plan Board bought a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,623 shares of the construction company’s stock, valued at approximately $217,000.

A number of other large investors have also modified their holdings of TREX. Clearbridge Investments LLC lifted its position in Trex by 0.9% during the third quarter. Clearbridge Investments LLC now owns 4,717,338 shares of the construction company’s stock worth $290,730,000 after buying an additional 43,653 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Trex by 7.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,441,866 shares of the construction company’s stock worth $212,122,000 after acquiring an additional 240,850 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of Trex by 0.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,886,128 shares of the construction company’s stock valued at $156,153,000 after acquiring an additional 13,545 shares during the last quarter. Norges Bank purchased a new stake in shares of Trex in the fourth quarter valued at about $113,613,000. Finally, Geneva Capital Management LLC increased its position in Trex by 10.7% during the fourth quarter. Geneva Capital Management LLC now owns 1,354,842 shares of the construction company’s stock worth $112,167,000 after purchasing an additional 131,407 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TREX. Barclays increased their price target on shares of Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Truist Financial increased their price objective on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Robert W. Baird lowered their price target on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $89.47.

Insider Transactions at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total value of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Trex Stock Up 1.4 %

Shares of TREX stock opened at $88.30 on Monday. Trex Company, Inc. has a 52 week low of $51.03 and a 52 week high of $101.91. The firm has a 50 day moving average of $92.31 and a two-hundred day moving average of $85.22. The stock has a market capitalization of $9.60 billion, a PE ratio of 37.90, a P/E/G ratio of 1.95 and a beta of 1.60.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same period last year, the business posted $0.38 earnings per share. Trex’s revenue was up 56.5% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 2.25 EPS for the current fiscal year.

About Trex

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.