In the world of finance, hedge funds play a crucial role in the investment landscape. These firms are known for their high-risk investments and complex strategies, often viewed as enigmatic to those outside of the industry. Among these entities is Cipher Capital LP, an institutional investor that has recently increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 40.7% during the fourth quarter.
The filing with the Securities and Exchange Commission (SEC) reveals that Cipher Capital LP now owns 24,126 shares of Trex stock after procuring an additional 6,979 shares in the period. This comes as good news for the construction company whose stock price has fluctuated significantly over time. As of June 3, 2023, these holdings are valued at $1,021,000.
For those curious about other hedge funds’ involvement with TREX HoldingsCHANNEL.com provides access to all relevant information regarding insider trades and filings with the SEC. It is always worth keeping an eye on such channels when dealing with high-volume trades like this one.
As noted earlier opening at $54.87 on Friday, Trex Company Inc has seen a one-year peak of $66.77 and a low of $38.68 in recent times. The current market capitalization stands at $5.97 billion and the financials show observable growth indicators in terms ample valuations alongside earnings ratios.
It goes without saying that these figures remain subject to change as events unfold over time within diverse industries and markets.
However notable current trends are grounded in continued advancement within fields related to infrastructure development for instance both locally and globally including residential properties vital infrastructure like highways bridges and other related sectors.
Despite being regarded as enigmatic operators characterized by high-risk investments due to their approaches like push towards illiquid asset classes such as venture capital or private equity – it cannot be denied how much of a significant force Hedge funds like Cipher Capital LP represent in today’s global investment environment.
[bs_slider_forecast ticker=”TREX”]
Hedge Funds and Institutional Investors Show Interest in Trex Company, Inc.
Trex Company, Inc. (NYSE:TREX) is currently being closely watched by hedge funds and institutional investors with various new stakes purchased in Trex stock over the last few months. Marshall Financial Group LLC recently bought a stake worth approximately $795,000 whilst Duality Advisers LP bought a new position valued at $1,217,000 during the fourth quarter of 2022. Bank of Montreal Can now owns 15,599 shares worth $702,000 after an additional 5,261 shares were purchased over the last quarter. Jacobs Levy Equity Management Inc. also made a $4,120,000 purchase of Trex stock in the third quarter whilst Ontario Teachers Pension Plan Board grew its stake by 84.3% during Q4 2022 to reach an ownership of 20,650 shares with a value of $874,000.
With hedge funds and other institutional investors now owning almost 95% of the company’s stock, it would appear that Trex has gained significant attention from the investor community this year. Several equities research analysts have given TREX a “buy” rating with Loop Capital raising their price target from $64 to $65 on Tuesday May 9th. Recently Credit Suisse Group gave TREX an “underperform” rating and attributed a low target price of $43 whereas other ratings have been more positive with buy ratings from Bank of America and B.Riley.
In terms of earnings for Q1 FY2023 on May 8th, Trex reported $239 million in revenue which surpassed projected expectations by nearly two million dollars as well as reporting an earning per share (EPS) figure that beat expected EPS targets by five cents. However, Trex’s quarterly revenue was down almost thirty percent compared to Q1 FY2022 which raised questions about whether or not it had been able to recuperate from pandemic-related troubles. Despite this decline in quarterly earnings, research analysts predict that Trex will achieve an EPS of 1.61 by year end.
Trex specializes in the production of wood-alternative decking as well as railing but has also expanded its product range to include deck framing and drainage, outdoor lighting, furniture and pergolas among its other collections. It operates through both Trex Residential Products and Trex Commercial Products segments.
