Algert Global LLC Acquires 38,700 Shares of Trex Company, Inc. (NYSE:TREX)

Algert Global LLC lifted its holdings in Trex Company, Inc. (NYSE:TREX) by 81.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,300 shares of the construction company’s stock after acquiring an additional 38,700 shares during the period. Algert Global LLC owned approximately 0.08% of Trex worth $5,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Trex in the 2nd quarter valued at about $31,000. UMB Bank n.a. boosted its stake in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the 2nd quarter worth approximately $44,000. Quarry LP boosted its stake in shares of Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Trading Up 2.7 %

TREX opened at $72.25 on Friday. The company has a market cap of $7.74 billion, a P/E ratio of 32.99, a P/E/G ratio of 3.20 and a beta of 1.49. The business’s 50-day moving average price is $67.94 and its 200-day moving average price is $73.44. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TREX. Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Bank of America cut their price target on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial lowered their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Benchmark lowered their price objective on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.94.

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.