Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Trex Company, Inc. $TREX

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Trex Company, Inc. (NYSE:TREX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 34,154 shares of the construction company’s stock, valued at approximately $1,198,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. WCM Investment Management LLC raised its position in Trex by 734.5% in the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock valued at $2,033,000 after buying an additional 34,825 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Trex during the 3rd quarter worth approximately $3,614,000. Thrivent Financial for Lutherans grew its stake in shares of Trex by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock worth $46,859,000 after acquiring an additional 66,721 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Trex by 90.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after acquiring an additional 698,628 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after purchasing an additional 932,247 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Trading Up 1.6%

NYSE TREX opened at $38.87 on Friday. The firm has a market capitalization of $4.04 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 7.75 and a beta of 1.51. The firm’s fifty day moving average price is $38.61 and its two-hundred day moving average price is $38.31. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78.

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

Analysts Set New Price Targets

A number of analysts have recently commented on TREX shares. Barclays reissued an “underweight” rating and issued a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $53.00 in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded Trex from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $46.42.

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.