Trexquant Investment LP purchased a new stake in shares of Trex Company Inc (NYSE:TREX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,122 shares of the construction company’s stock, valued at approximately $548,000.
A number of other hedge funds have also recently added to or reduced their stakes in TREX. Advisory Services Network LLC grew its position in Trex by 100.0% during the second quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock valued at $133,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can acquired a new stake in Trex during the second quarter valued at $187,000. US Bancorp DE grew its position in Trex by 100.0% during the second quarter. US Bancorp DE now owns 3,084 shares of the construction company’s stock valued at $193,000 after buying an additional 1,542 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Trex during the third quarter valued at $204,000. Finally, First Republic Investment Management Inc. acquired a new stake in Trex during the second quarter valued at $210,000. Institutional investors own 89.62% of the company’s stock.
Several research firms recently commented on TREX. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating in a research report on Friday, August 10th. Finally, SunTrust Banks dropped their target price on shares of Trex to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.35.
Shares of NYSE TREX opened at $61.50 on Wednesday. Trex Company Inc has a 52-week low of $50.72 and a 52-week high of $90.74. The stock has a market capitalization of $3.74 billion, a PE ratio of 38.92 and a beta of 2.27.
Trex (NYSE:TREX) last announced its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Trex had a net margin of 19.16% and a return on equity of 46.55%. The business had revenue of $166.38 million for the quarter, compared to analyst estimates of $173.10 million. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Sell-side analysts forecast that Trex Company Inc will post 2.29 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “7,122 Shares in Trex Company Inc (TREX) Acquired by Trexquant Investment LP” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/12/05/7122-shares-in-trex-company-inc-trex-acquired-by-trexquant-investment-lp.html.
Trex Company Profile
Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
Further Reading: How is inflation measured?
Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company Inc (NYSE:TREX).
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.