Trex Company, Inc.
In the published model solve dated 2026-Q2, anchored at $45.08, Trex Company, Inc. (TREX) is priced for today's economics sustained for ~8.1 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Trex's business is convincing homeowners to replace wood with its composite decking, and the runway is real: its 10-K names wood, not other composite makers, as the primary competition, noting that ⟦"A majority of the lumber used in wood decks is pressure-treated lumber"⟧. • The risk is the price, not the product: at roughly 15x operating income the market is paying for growth near the company's maximum self-funded pace for about six years, while revenue grew 1% in the latest quarter and manag
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404 institutional managers reported holding TREX in 13F filings for the quarter ended 2026-03-31. 55 opened new positions that quarter. Held by BlackRock, Vanguard Group, Wellington Management, among others. On the short side, 10.9M shares were sold short as of the 2026-06-15 count, about 10% of shares outstanding (5.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TREX has cut its share count 8.9% over the past five years, spending $687.71M on repurchases. It pays no dividend. Cash returned over the past three years: $243.50M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at TREX over the trailing three years: 2024: 3 buys totaling $8k; 2025: 5 buys totaling $490k; 2026: 3 buys totaling $504k. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TREX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-09 | +10.3% | +12.3% |
| 2023-08-01 | +9.7% | -22.7% |
| 2023-10-31 | +3.6% | +43.6% |
| 2024-02-27 | -0.7% | -5.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TREX's latest 8-K filings: 2026-08-24 (items 5.02, 7.01, 9.01); 2026-08-04 (items 2.02, 9.01); 2026-07-14 (items 7.01); 2026-07-13 (items 8.01, 9.01); 2026-05-07 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.