According to an SEC filing dated February 4, 2026, Madison Asset Management, LLC, sold the 1,893,081 shares of trex (NYSE:TREX) during the fourth quarter of 2025. The estimated transaction value was $97.82 million, calculated using the quarterly average price. The quarter-end value of the fund’s Trex position decreased by $97.82 million, reflecting both the outright sale of shares and any price movements during the period.
Madison Asset Management completely sold Trex.
As of February 5, 2026, Trex shares were priced at $43.02, down 38.6% year-over-year, underperforming the S&P 500 by 52 percentage points.
|
Metric |
Worth |
|---|---|
|
Revenue (TTM) |
$1.18 billion |
|
Net income (TTM) |
$197.88 million |
|
Market capitalization |
4.72 billion dollars |
|
Price (as of market close on February 5, 2026) |
$43.02 |
Trex:
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Manufactures and distributes composite decking, railing, fencing and outdoor living products, including Trex Transcend, Trex Select, Trex Enhance and related accessories.
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It operates a product-based business model, generating revenue primarily through wholesale distribution, retail lumber dealers, and direct sales to commercial and residential markets.
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has core customer segments including residential homeowners, commercial developers, and retail partners such as Home Depot and Lowe’s.
Trex is a leading provider of composite decking and outdoor living solutions, serving residential and commercial markets throughout the United States. The company leverages a diversified distribution network and strong retail partnerships to maintain its market presence. With a focus on innovative, low-maintenance products, Trex differentiates itself through brand recognition and a broad portfolio tailored to outdoor construction needs.
Less than a year after opening its position in composite decking leader Trex, Madison Asset Management closed its position in the cyclical company. Tied to the housing market (and, to a large extent, consumer confidence), Trex has seen its stock price rise and shift to the right over the long term, but has experienced periods of volatility over shorter time frames. While it’s impossible to know exactly why Madison decided now was the right time to sell Trex, they could simply have been hoping for a quick rally that didn’t materialize.