Hill City Capital LP Invests $27.52 Million in Trex Company, Inc. $TREX

Hill City Capital LP bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 550,000 shares of the construction company’s stock, valued at approximately $27,522,000. Trex accounts for about 0.7% of Hill City Capital LP’s portfolio, making the stock its 21st biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in Trex in the fourth quarter valued at $33,000. Versant Capital Management Inc purchased a new position in shares of Trex during the 2nd quarter valued at about $58,000. Ascentis Independent Advisors purchased a new position in shares of Trex during the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Trex in the 4th quarter valued at about $47,000. Finally, Empowered Funds LLC acquired a new position in shares of Trex in the 4th quarter valued at about $50,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TREX. UBS Group reaffirmed a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price target (up from $49.00) on shares of Trex in a report on Friday, July 10th. Zelman & Associates upgraded Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, May 18th. Citigroup reaffirmed a “neutral” rating and set a $52.00 price objective (up from $43.00) on shares of Trex in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.30.

Trex Price Performance

Shares of NYSE:TREX opened at $46.80 on Monday. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The firm has a market capitalization of $4.86 billion, a PE ratio of 27.86, a P/E/G ratio of 3.23 and a beta of 1.48. The business’s 50 day moving average price is $46.72 and its 200-day moving average price is $42.37.

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

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the transaction, the senior vice president directly owned 36,631 shares of the company’s stock, valued at approximately $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. Also, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the transaction, the senior vice president owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.93% of the stock is owned by corporate insiders.

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.