5 Best Manufacturing Stocks To Buy Now

2. Trex Company, Inc. (NYSE: TREX)

No. of Hedge Fund Holders: 30

Virginia-based Trex Company manufactures wood-alternative decking and railing, porch, fencing, trim, steel deck framing and outdoor lighting products. The stock is up 84% in the last 12 months. In the fourth quarter, Trex earned $0.37 per share, beating the consensus estimate by $0.01.  Revenue in the quarter increased 38% and beat expectations.  In the first quarter of 2021, Trex sees revenue of $235 million to $245 million.

As of the end of the fourth quarter of 2020, Broad Bay Capital holds $107.2 million worth of TREX shares. Broad Bay Capital is followed by Montanaro Asset Management and Waratah Capital Investors with $43.3 million and  $20.3 million worth of TREX shares, respectively.

Our database shows that 30 hedge funds held stakes in Trex Company Inc. at the end of December, versus the 26 funds in the third quarter.