Gabelli Funds LLC Acquires Shares of 50,000 Trex Company, Inc. $TREX

Gabelli Funds LLC acquired a new stake in Trex Company, Inc. (NYSE:TREX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,000 shares of the construction company’s stock, valued at approximately $1,754,000.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Trex in the 4th quarter valued at approximately $27,000. Rothschild Investment LLC purchased a new stake in shares of Trex in the 3rd quarter valued at approximately $60,000. Clearstead Advisors LLC grew its position in shares of Trex by 91.8% in the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock valued at $78,000 after buying an additional 718 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Trex by 662.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock valued at $78,000 after buying an additional 1,318 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Trex by 127.0% in the 3rd quarter. Allworth Financial LP now owns 2,159 shares of the construction company’s stock valued at $112,000 after buying an additional 1,208 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Up 0.7%

NYSE:TREX opened at $39.16 on Friday. The company has a market capitalization of $4.07 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 7.88 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78. The firm has a 50-day moving average price of $38.62 and a two-hundred day moving average price of $38.31.

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

Analysts Set New Price Targets

TREX has been the topic of a number of recent analyst reports. DA Davidson increased their target price on shares of Trex from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Bank of America dropped their target price on shares of Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday. Citigroup reaffirmed a “neutral” rating and issued a $43.00 target price (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.