Raymond James & Associates Lowers Stock Position in Trex Company, Inc. (NYSE:TREX)

Raymond James & Associates reduced its stake in Trex Company, Inc. (NYSE:TREXFree Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,168 shares of the construction company’s stock after selling 14,200 shares during the quarter. Raymond James & Associates owned about 0.18% of Trex worth $16,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Trex in the third quarter valued at approximately $4,053,000. Quantbot Technologies LP raised its stake in Trex by 81.8% in the third quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company’s stock valued at $3,937,000 after purchasing an additional 28,746 shares in the last quarter. Malaga Cove Capital LLC raised its stake in shares of Trex by 11.4% during the third quarter. Malaga Cove Capital LLC now owns 15,240 shares of the construction company’s stock worth $939,000 after acquiring an additional 1,559 shares in the last quarter. Algert Global LLC raised its stake in shares of Trex by 66.7% during the third quarter. Algert Global LLC now owns 111,289 shares of the construction company’s stock worth $6,859,000 after acquiring an additional 44,541 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Trex during the third quarter worth approximately $6,326,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Down 3.0 %

Shares of TREX stock opened at $94.99 on Wednesday. Trex Company, Inc. has a 12 month low of $46.84 and a 12 month high of $101.91. The stock has a market cap of $10.32 billion, a PE ratio of 50.26, a price-to-earnings-growth ratio of 2.54 and a beta of 1.60. The company’s fifty day moving average price is $92.21 and its 200-day moving average price is $77.09.

Trex (NYSE:TREXGet Free Report) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. Trex had a return on equity of 31.26% and a net margin of 18.76%. Trex’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, sell-side analysts forecast that Trex Company, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TREX has been the topic of several research reports. Wolfe Research initiated coverage on shares of Trex in a research note on Tuesday, December 12th. They set a “peer perform” rating on the stock. Truist Financial lifted their price target on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. UBS Group lifted their price target on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus lifted their price target on shares of Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.89.

Read Our Latest Stock Analysis on TREX

Trex Profile

(Free Report)

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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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