American Trust Grows Holdings in Trex Company, Inc. (NYSE:TREX)

American Trust grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 7.9% in the third quarter, Holdings Channel reports. The firm owned 3,367 shares of the construction company’s stock after acquiring an additional 246 shares during the period. American Trust’s holdings in Trex were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TREX. SG Americas Securities LLC grew its stake in Trex by 242.0% in the 2nd quarter. SG Americas Securities LLC now owns 9,453 shares of the construction company’s stock worth $701,000 after acquiring an additional 6,689 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Trex by 69.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock worth $2,073,000 after purchasing an additional 11,455 shares during the period. Blue Trust Inc. raised its position in Trex by 51.4% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock valued at $56,000 after purchasing an additional 256 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of Trex by 5.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 23,347 shares of the construction company’s stock worth $1,730,000 after buying an additional 1,194 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Trex during the 2nd quarter worth $726,000. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 1.8 %

NYSE TREX opened at $76.98 on Friday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a fifty day simple moving average of $70.53 and a two-hundred day simple moving average of $72.15. The stock has a market cap of $8.25 billion, a P/E ratio of 35.15, a P/E/G ratio of 3.63 and a beta of 1.49.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on TREX. Jefferies Financial Group lowered their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. BMO Capital Markets increased their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson boosted their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.