Wesbanco Bank Inc. Invests $932,000 in Trex Company, Inc. $TREX

Wesbanco Bank Inc. purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,600 shares of the construction company’s stock, valued at approximately $932,000.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Trex during the 4th quarter worth about $4,748,000. Aquatic Capital Management LLC raised its holdings in Trex by 194.4% in the third quarter. Aquatic Capital Management LLC now owns 93,815 shares of the construction company’s stock worth $4,847,000 after purchasing an additional 61,950 shares during the period. Fisher Asset Management LLC lifted its holdings in Trex by 19.0% during the third quarter. Fisher Asset Management LLC now owns 329,124 shares of the construction company’s stock worth $17,006,000 after acquiring an additional 52,508 shares in the last quarter. CWM LLC lifted its holdings in shares of Trex by 182.0% during the 4th quarter. CWM LLC now owns 85,995 shares of the construction company’s stock valued at $3,017,000 after purchasing an additional 55,495 shares in the last quarter. Finally, M&T Bank Corp bought a new position in Trex in the fourth quarter valued at approximately $917,000. Institutional investors own 95.96% of the company’s stock.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by corporate insiders.

Trex Price Performance

Shares of TREX stock opened at $49.87 on Monday. The company has a fifty day moving average price of $42.04 and a two-hundred day moving average price of $40.10. Trex Company, Inc. has a one year low of $29.77 and a one year high of $68.78. The stock has a market cap of $5.18 billion, a P/E ratio of 27.86, a P/E/G ratio of 10.10 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $343.40 million for the quarter, compared to analyst estimates of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. Trex’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities research analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. DA Davidson reaffirmed a “buy” rating and issued a $51.00 target price on shares of Trex in a research note on Friday, June 5th. Citigroup reiterated a “neutral” rating and set a $43.00 target price (down from $46.00) on shares of Trex in a report on Monday, May 11th. Zelman & Associates upgraded Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, May 18th. Finally, Bank of America reduced their price objective on Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.68.

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.