Hsbc Holdings PLC Purchases 33,991 Shares of Trex Company, Inc. $TREX

Hsbc Holdings PLC increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 97.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,812 shares of the construction company’s stock after buying an additional 33,991 shares during the period. Hsbc Holdings PLC owned about 0.07% of Trex worth $2,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Trex by 38.8% during the 4th quarter. Invesco Ltd. now owns 287,265 shares of the construction company’s stock worth $10,077,000 after acquiring an additional 80,261 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Trex by 210.9% during the fourth quarter. Corient Private Wealth LLC now owns 12,052 shares of the construction company’s stock valued at $423,000 after purchasing an additional 8,175 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Trex during the fourth quarter valued at approximately $989,000. Mercer Global Advisors Inc. ADV raised its stake in Trex by 100.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 47,017 shares of the construction company’s stock worth $1,649,000 after buying an additional 23,612 shares in the last quarter. Finally, Kanen Wealth Management LLC purchased a new stake in Trex during the fourth quarter worth $8,830,000. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TREX shares. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup restated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of Trex in a research note on Monday, May 11th. Zelman & Associates raised 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. Wall Street Zen lowered Trex from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Stifel Nicolaus boosted their target price on shares of Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.68.

Trex Trading Up 0.0%

Shares of TREX stock opened at $49.73 on Tuesday. The business’s fifty day simple moving average is $42.21 and its 200-day simple moving average is $40.21. The company has a market cap of $5.17 billion, a PE ratio of 27.78, a PEG ratio of 10.10 and a beta of 1.51. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $68.78.

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

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

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.