Trex Company, Inc. $TREX Shares Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC grew its position in Trex Company, Inc. (NYSE:TREX) by 194.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,815 shares of the construction company’s stock after purchasing an additional 61,950 shares during the quarter. Aquatic Capital Management LLC owned about 0.09% of Trex worth $4,847,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TREX. AQR Capital Management LLC raised its stake in Trex by 17,551.6% in the third quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock valued at $81,498,000 after buying an additional 1,588,948 shares during the last quarter. Norges Bank purchased a new position in shares of Trex in the 2nd quarter valued at approximately $54,795,000. Impax Asset Management Group plc boosted its stake in Trex by 93.0% in the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after purchasing an additional 932,247 shares in the last quarter. Wellington Management Group LLP grew its position in Trex by 86.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after purchasing an additional 917,448 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after purchasing an additional 698,628 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Benchmark cut shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Barclays upped their target price on Trex from $32.00 to $39.00 and gave the company an “underweight” rating in a research report on Wednesday, February 25th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.78.

Trex Price Performance

Shares of NYSE TREX opened at $37.98 on Tuesday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 8.62 and a beta of 1.58. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78. The firm’s 50 day simple moving average is $41.32 and its 200-day simple moving average is $43.29.

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