2,950 Shares in Trex Company, Inc. (NYSE:TREX) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,950 shares of the construction company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. GAMMA Investing LLC boosted its stake in shares of Trex by 274.9% in the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after buying an additional 514 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after acquiring an additional 393,850 shares during the period. American Trust boosted its position in Trex by 7.9% in the 3rd quarter. American Trust now owns 3,367 shares of the construction company’s stock worth $224,000 after purchasing an additional 246 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Trex by 73.1% during the 3rd quarter. Tidal Investments LLC now owns 14,836 shares of the construction company’s stock worth $988,000 after purchasing an additional 6,263 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Trex during the 3rd quarter valued at approximately $30,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TREX. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.81.

Trex Trading Down 1.1 %

NYSE:TREX opened at $65.92 on Thursday. The company has a market cap of $7.06 billion, a P/E ratio of 30.10, a P/E/G ratio of 3.50 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The company’s 50-day moving average price is $72.59 and its 200-day moving average price is $70.44.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period last year, the company posted $0.57 EPS. The business’s revenue was down 23.1% on a year-over-year basis. On average, analysts expect that Trex Company, Inc. will post 2.05 earnings per share 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.