Entropy Technologies LP Buys 12,468 Shares of Trex Company, Inc. (NYSE:TREX)

Entropy Technologies LP grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 287.1% during the third quarter, HoldingsChannel.com reports. The fund owned 16,811 shares of the construction company’s stock after buying an additional 12,468 shares during the quarter. Entropy Technologies LP’s holdings in Trex were worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new stake in Trex in the second quarter worth approximately $31,000. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Trex during the second quarter valued at $44,000. Quarry LP lifted its holdings in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. grew its stake in shares of Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Performance

TREX stock opened at $72.64 on Thursday. The firm has a fifty day moving average price of $67.06 and a 200 day moving average price of $74.36. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The firm has a market cap of $7.78 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49.

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

Analyst Ratings Changes

TREX has been the topic of a number of research reports. Benchmark dropped their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Truist Financial lowered their target price on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and reduced their price target for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and a consensus price target of $79.94.

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.