Gabelli Funds LLC Invests $1.75 Million in Trex Company, Inc. $TREX

Gabelli Funds LLC bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the construction company’s stock, valued at approximately $1,754,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. AQR Capital Management LLC boosted its position in Trex by 3.2% during the first 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 last quarter. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 392,715 shares during the last quarter. Hsbc Holdings PLC boosted its position 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 acquiring 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 acquiring an additional 18,568 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Trex during the second quarter worth about $1,055,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 0.7%

Shares of TREX opened at $39.16 on Friday. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78. The firm’s 50 day moving average price is $38.62 and its 200 day moving average price is $38.31. The company has a market cap of $4.07 billion, a P/E ratio of 21.88, a PEG ratio of 7.88 and a beta of 1.51.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Bank of America decreased their target price on shares of Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Weiss Ratings upgraded shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Barclays reiterated an “underweight” rating and issued a $36.00 target price (up from $35.00) on shares of Trex in a report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.42.

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.