39,100 Shares in Trex Company, Inc. $TREX Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, HoldingsChannel reports. The firm purchased 39,100 shares of the construction company’s stock, valued at approximately $1,957,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Trex during the 2nd quarter worth approximately $525,081,000. Wellington Management Group LLP boosted its stake in shares of Trex by 266.0% in the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after purchasing an additional 5,251,297 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Trex by 143.8% during the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after buying an additional 2,297,533 shares during the period. Norges Bank acquired a new stake in shares of Trex during the fourth quarter worth $62,904,000. Finally, Freestone Grove Partners LP bought a new position in Trex during the fourth quarter worth $53,951,000. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Up 0.2%

NYSE:TREX opened at $45.84 on Monday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 3.16 and a beta of 1.48. The firm has a fifty day simple moving average of $46.72 and a two-hundred day simple moving average of $42.48. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $66.06.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. Equities analysts predict that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares of the company’s stock, valued at $1,831,550. The trade was a 3.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

TREX has been the topic of several recent analyst reports. Stifel Nicolaus set a $49.00 target price on shares of Trex and gave the company a “hold” rating in a report on Tuesday, August 11th. Bank of America increased their price target on Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Zacks Research raised Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. BMO Capital Markets set a $57.00 price objective on Trex in a research note on Wednesday, August 5th. Finally, Stephens upped their target price on Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $49.30.

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.