Vaughan Nelson Investment Management L.P. Increases Stock Position in Trex Company, Inc. $TREX

Vaughan Nelson Investment Management L.P. raised its stake in shares of Trex Company, Inc. (NYSE:TREX) by 127.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 628,708 shares of the construction company’s stock after purchasing an additional 351,765 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.59% of Trex worth $32,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Amundi raised its position in shares of Trex by 8.0% during the 1st quarter. Amundi now owns 279,864 shares of the construction company’s stock valued at $15,577,000 after buying an additional 20,752 shares in the last quarter. AQR Capital Management LLC raised its position in Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after purchasing an additional 392,715 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Trex in the 1st quarter worth about $414,000. Finally, Woodline Partners LP boosted its holdings in shares of Trex by 136.5% in the 1st quarter. Woodline Partners LP now owns 739,052 shares of the construction company’s stock worth $42,939,000 after purchasing an additional 426,561 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Activity at Trex

In other news, CFO Prithvi Gandhi bought 15,000 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the acquisition, the chief financial officer owned 30,664 shares in the company, valued at approximately $978,794.88. This trade represents a 95.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.74% of the company’s stock.

Trex Stock Performance

Shares of Trex stock opened at $37.44 on Wednesday. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $75.55. The company’s 50 day moving average price is $35.52 and its 200-day moving average price is $50.36. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 20.35 and a beta of 1.55.

Trex (NYSE:TREX) last posted its quarterly 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 the consensus estimate of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TREX has been the topic of a number of research reports. UBS Group set a $52.00 price objective on Trex and gave the company a “buy” rating in a report on Tuesday. William Blair downgraded shares of Trex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. DA Davidson set a $45.00 price objective on shares of Trex and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Jefferies Financial Group raised shares of Trex from a “hold” rating to a “buy” rating and increased their target price for the company from $39.00 to $42.00 in a report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Trex in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.25.

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.