SG Americas Securities LLC Acquires 18,181 Shares of Trex Company, Inc. $TREX

SG Americas Securities LLC lifted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 17.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 121,784 shares of the construction company’s stock after acquiring an additional 18,181 shares during the period. SG Americas Securities LLC’s holdings in Trex were worth $4,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after acquiring an additional 177 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Trex by 1.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after purchasing an additional 214 shares during the last quarter. Pinnacle Associates Ltd. grew 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 worth $1,413,000 after purchasing an additional 285 shares during the period. Hsbc Holdings PLC increased its holdings in Trex by 6.3% in the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock valued at $294,000 after purchasing an additional 322 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Trex by 0.7% in the third quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company’s stock valued at $2,359,000 after buying an additional 333 shares during the period. 95.96% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TREX has been the subject of several analyst reports. Barclays restated an “underweight” rating and set a $36.00 target price (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Stifel Nicolaus upped their target price on shares of Trex from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, May 11th. DA Davidson reissued a “buy” rating and set a $51.00 price target on shares of Trex in a research report on Friday, June 5th. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Bank of America lowered their price objective on shares of Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.68.

Trex Stock Performance

Shares of TREX opened at $49.73 on Tuesday. The stock has a 50 day simple moving average of $42.21 and a 200 day simple moving average of $40.21. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $68.78. The firm has a market capitalization of $5.17 billion, a PE ratio of 27.78, a P/E/G ratio of 10.10 and a beta of 1.51.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The firm had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.

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.