Hsbc Holdings PLC Grows Stock Holdings in Trex Company, Inc. $TREX

Hsbc Holdings PLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 97.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 68,812 shares of the construction company’s stock after buying an additional 33,991 shares during the period. Hsbc Holdings PLC’s holdings in Trex were worth $2,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TREX. AQR Capital Management LLC lifted its position in shares of Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after acquiring an additional 177 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Trex by 1.9% during the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after purchasing an additional 214 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Trex by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock valued at $1,413,000 after purchasing an additional 285 shares during the period. CIBC Private Wealth Group LLC raised its stake in Trex by 0.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company’s stock valued at $2,359,000 after purchasing an additional 333 shares during the period. Finally, Nicolet Advisory Services LLC lifted its holdings in Trex by 5.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 9,276 shares of the construction company’s stock worth $488,000 after purchasing an additional 478 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Price Performance

NYSE:TREX opened at $47.14 on Friday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 9.50 and a beta of 1.46. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78. The stock’s 50 day simple moving average is $43.27 and its two-hundred day simple moving average is $40.98.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $339.99 million. During the same period in the prior year, the company earned $0.60 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen downgraded Trex from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Citigroup reissued a “neutral” rating and issued a $43.00 target price (down from $46.00) on shares of Trex in a report on Monday, May 11th. DA Davidson restated a “buy” rating and set a $51.00 target price on shares of Trex in a research report on Friday, June 5th. 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 note on Monday, May 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $56.00 price target (up from $49.00) on shares of Trex in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.79.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction on 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 $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by insiders.

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.