Alden Global Capital LLC Buys New Stake in Trex Company, Inc. $TREX

Alden Global Capital LLC bought a new stake 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 institutional investor bought 57,000 shares of the construction company’s stock, valued at approximately $2,000,000. Trex comprises approximately 0.9% of Alden Global Capital LLC’s portfolio, making the stock its 19th largest holding. Alden Global Capital LLC owned 0.05% of Trex as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of TREX. AQR Capital Management LLC raised its holdings in shares of Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after buying an additional 2,297,533 shares during the last quarter. Norges Bank purchased a new position in shares of Trex in the fourth quarter worth $62,904,000. Freestone Grove Partners LP purchased a new position in shares of Trex in the fourth quarter worth $53,951,000. Wellington Management Group LLP raised its holdings in shares of Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after buying an additional 917,448 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Trex by 120.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,326,379 shares of the construction company’s stock worth $46,529,000 after buying an additional 725,090 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group reaffirmed a “buy” rating and issued a $59.00 price target (up from $58.00) on shares of Trex in a report on Friday, May 8th. Barclays reaffirmed an “underweight” rating and issued a $36.00 price target (up from $35.00) on shares of Trex in a report on Monday, May 11th. Citigroup reaffirmed a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of Trex in a report on Monday, May 11th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $51.00 price target on shares of Trex in a report on Friday, June 5th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $46.42.

Trex Price Performance

Shares of Trex stock opened at $45.42 on Thursday. The firm has a fifty day moving average price of $40.81 and a 200 day moving average price of $39.46. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78. The stock has a market cap of $4.72 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 9.50 and a beta of 1.51.

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, 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 during the quarter, compared to analysts’ expectations of $339.99 million. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Trex Company, Inc. will post 1.68 EPS for the current year.

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.