Hill City Capital LP Buys Shares of 550,000 Trex Company, Inc. $TREX

Hill City Capital LP purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the second quarter, HoldingsChannel.com reports. The fund purchased 550,000 shares of the construction company’s stock, valued at approximately $27,522,000,000. Trex comprises 0.6% of Hill City Capital LP’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after acquiring an additional 177 shares during the period. Goldman Sachs Group Inc. raised its holdings 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. Hsbc Holdings PLC raised its holdings in Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after purchasing an additional 322 shares during the last quarter. First Trust Advisors LP boosted its position in Trex by 535.1% during the second quarter. First Trust Advisors LP now owns 22,038 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 18,568 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Trex during the second quarter worth $1,055,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TREX shares. UBS Group restated a “buy” rating and issued a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Barclays reiterated an “underweight” rating and issued a $42.00 price objective (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price objective (up from $49.00) on shares of Trex in a research note on Friday, July 10th. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Trex in a report on Tuesday, July 14th. Finally, Truist Financial raised their target price on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.30.

Insiders Place Their Bets

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

Trex Stock Performance

Shares of NYSE:TREX opened at $46.15 on Friday. The business’s fifty day moving average price is $46.74 and its two-hundred day moving average price is $42.46. The stock has a market cap of $4.80 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 3.22 and a beta of 1.48. Trex Company, Inc. has a one year low of $29.77 and a one year high of $66.06.

Trex (NYSE:TREX) last released 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). Trex had a return on equity of 18.03% and a net margin of 14.68%.The company had revenue of $418.02 million for the quarter, compared to analysts’ expectations of $415.71 million. During the same period in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Trex Company, Inc. will post 1.76 earnings per share 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.