Bank of Montreal Can lifted its holdings in shares of Trex Company, Inc. (NYSE:TREX – Free Report) by 147.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 36,671 shares of the construction company’s stock after buying an additional 21,852 shares during the period. Bank of Montreal Can’s holdings in Trex were worth $2,718,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. purchased a new position in Trex during the fourth quarter valued at $1,563,000. Eagle Asset Management Inc. lifted its stake in Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after buying an additional 119 shares in the last quarter. KBC Group NV boosted its holdings in Trex by 5.5% in the 4th quarter. KBC Group NV now owns 20,099 shares of the construction company’s stock worth $1,664,000 after buying an additional 1,051 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Trex by 27.7% during the 4th quarter. Rafferty Asset Management LLC now owns 33,410 shares of the construction company’s stock worth $2,766,000 after buying an additional 7,254 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Trex by 6.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 32,384 shares of the construction company’s stock valued at $2,681,000 after acquiring an additional 2,087 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
Trex Trading Down 0.4 %
Shares of TREX opened at $67.46 on Thursday. The company’s 50-day moving average price is $67.64 and its 200 day moving average price is $80.03. 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 $7.33 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Bank of America dropped their price target on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Citigroup dropped their target price on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. reduced their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. DA Davidson lowered their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Stifel Nicolaus cut their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.88.
Read Our Latest Report on Trex
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.
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