Man Group plc Acquires New Holdings in Trex Company, Inc. $TREX

Man Group plc bought a new stake in Trex Company, Inc. (NYSE:TREX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 222,615 shares of the construction company’s stock, valued at approximately $11,140,000. Man Group plc owned about 0.21% of Trex at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Trex in the 2nd quarter worth approximately $525,081,000. Wellington Management Group LLP raised its position in Trex by 266.0% in the fourth 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 period. AQR Capital Management LLC lifted its stake in 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 purchasing an additional 2,297,533 shares in the last quarter. Morgan Stanley boosted its holdings in Trex by 44.6% during the 4th quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after acquiring an additional 713,054 shares during the period. Finally, Geode Capital Management LLC grew its position in Trex by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock valued at $67,132,000 after acquiring an additional 24,892 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

NYSE:TREX opened at $45.84 on Friday. The stock has a 50-day simple moving average of $46.72 and a 200-day simple moving average of $42.49. The stock has a market cap of $4.76 billion, a P/E ratio of 27.29, a P/E/G ratio of 3.18 and a beta of 1.48. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06.

Trex (NYSE:TREX) last issued its 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 business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.Trex’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. On average, equities research analysts predict that Trex Company, Inc. will post 1.76 EPS for the current year.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of the company’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 completion of the transaction, the senior vice president owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. The trade was a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TREX. Zacks Research raised shares of Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of Trex from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $43.00) on shares of Trex in a report on Wednesday, July 15th. Stephens boosted their price target on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Finally, Truist Financial boosted their price target on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus price target of $49.30.

Trex 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.