Quantbot Technologies LP Grows Position in Trex Company, Inc. (NYSE:TREX)

Quantbot Technologies LP boosted its stake in Trex Company, Inc. (NYSE:TREX) by 130.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 46,721 shares of the construction company’s stock after buying an additional 26,451 shares during the quarter. Quantbot Technologies LP’s holdings in Trex were worth $3,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Trex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after buying an additional 65,428 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Trex by 19.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after purchasing an additional 660,536 shares during the period. Conestoga Capital Advisors LLC grew its stake in Trex by 3.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares during the period. American Century Companies Inc. grew its stake in Trex by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares during the period. Finally, TD Asset Management Inc grew its stake in Trex by 516.8% in the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after purchasing an additional 1,341,419 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TREX has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets reduced their price objective on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and reduced their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $80.88.

Trex Stock Up 0.2 %

Shares of NYSE TREX opened at $66.22 on Tuesday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The business has a 50-day simple moving average of $70.38 and a two-hundred day simple moving average of $82.28. The company has a market cap of $7.20 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.18 and a beta of 1.50.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Trex Company, Inc. will post 2.03 EPS for the current year.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.