Intech Investment Management LLC Buys New Position in Trex Company, Inc. (NYSE:TREX)

Intech Investment Management LLC purchased a new position in Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 26,767 shares of the construction company’s stock, valued at approximately $1,984,000.

Several other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc grew its position in Trex by 516.8% during the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after buying an additional 1,341,419 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Trex by 250.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after purchasing an additional 670,665 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Trex by 19.2% during the fourth 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. Renaissance Technologies LLC acquired a new position in shares of Trex in the second quarter valued at $19,475,000. Finally, Motley Fool Asset Management LLC lifted its position in Trex by 287.5% in the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock worth $32,400,000 after purchasing an additional 240,989 shares during the period. 95.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. Barclays dropped their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Stifel Nicolaus decreased their price objective on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. B. Riley dropped their target price on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Benchmark decreased their price target on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average price target of $80.88.

Trex Stock Up 0.7 %

Shares of NYSE:TREX opened at $69.66 on Tuesday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The firm has a market cap of $7.57 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.25 and a beta of 1.50. The company’s 50-day moving average price is $69.42 and its two-hundred day moving average price is $81.19.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter last year, the business posted $0.71 earnings per share. Trex’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts predict that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

About Trex

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.