Pinnbrook Capital Management LP Buys Shares of 93,900 Trex Company, Inc. $TREX

Pinnbrook Capital Management LP purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 93,900 shares of the construction company’s stock, valued at approximately $4,699,000. Pinnbrook Capital Management LP owned approximately 0.09% of Trex as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Trex in the second quarter valued at about $89,000. William Blair Investment Management LLC acquired a new position in Trex during the second quarter worth about $25,597,000. Landscape Capital Management L.L.C. bought a new position in shares of Trex in the second quarter worth about $5,377,000. EP Wealth Advisors LLC bought a new position in shares of Trex in the second quarter worth about $312,000. Finally, Ieq Capital LLC bought a new position in shares of Trex in the second quarter worth about $3,950,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TREX. Truist Financial lifted their price target on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Zelman & Associates upgraded 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, May 18th. BMO Capital Markets set a $57.00 target price on shares of Trex in a research report on Wednesday, August 5th. Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Trex in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average price target of $49.30.

Trex Trading Down 1.1%

TREX opened at $46.80 on Friday. The company has a fifty day moving average price of $46.72 and a two-hundred day moving average price of $42.36. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $66.06. The company has a market cap of $4.86 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). Trex had a return on equity of 18.03% and a net margin of 14.68%.The firm had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the transaction, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company 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.