Geode Capital Management LLC Decreases Position in Trex Company, Inc. $TREX

Geode Capital Management LLC decreased its holdings in Trex Company, Inc. (NYSE:TREX) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,851,205 shares of the construction company’s stock after selling 85,505 shares during the period. Geode Capital Management LLC’s holdings in Trex were worth $100,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of TREX. Armstrong Advisory Group Inc. acquired a new position in Trex during the 2nd quarter worth $31,000. Parallel Advisors LLC boosted its stake in shares of Trex by 28.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after buying an additional 232 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Trex during the second quarter worth about $60,000. Brooklyn Investment Group grew its position in shares of Trex by 35,733.3% during the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company’s stock worth $62,000 after buying an additional 1,072 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Trex by 16.8% during the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after buying an additional 164 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TREX has been the subject of several analyst reports. Zacks Research cut shares of Trex from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 target price (down previously from $61.00) on shares of Trex in a research note on Monday, November 10th. Loop Capital restated a “hold” rating and issued a $66.00 price target on shares of Trex in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft downgraded Trex from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Wednesday, November 5th. Finally, Truist Financial dropped their price objective on Trex from $75.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus target price of $52.53.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi acquired 15,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $31.92 per share, with a total value of $478,800.00. Following the completion of the acquisition, the chief financial officer owned 30,664 shares of the company’s stock, valued at $978,794.88. The trade was a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Trex Price Performance

NYSE TREX opened at $30.13 on Friday. The company has a fifty day moving average of $46.98 and a two-hundred day moving average of $55.55. The company has a market capitalization of $3.23 billion, a PE ratio of 17.42, a P/E/G ratio of 2.02 and a beta of 1.49. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $80.74.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The firm had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. Trex has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Trex Company 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.