Van ECK Associates Corp Grows Position in Trex Company, Inc. (NYSE:TREX)

Van ECK Associates Corp lifted its stake in Trex Company, Inc. (NYSE:TREX) by 22.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,823 shares of the construction company’s stock after buying an additional 5,782 shares during the quarter. Van ECK Associates Corp’s holdings in Trex were worth $2,635,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its position in Trex by 97.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,239,723 shares of the construction company’s stock valued at $76,404,000 after acquiring an additional 612,832 shares during the last quarter. Fred Alger Management LLC increased its position in Trex by 910.6% during the third quarter. Fred Alger Management LLC now owns 447,159 shares of the construction company’s stock valued at $27,558,000 after acquiring an additional 402,913 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Trex by 69.3% in the third quarter. Invesco Ltd. now owns 921,821 shares of the construction company’s stock worth $56,812,000 after purchasing an additional 377,377 shares during the last quarter. FMR LLC grew its holdings in shares of Trex by 128.5% in the third quarter. FMR LLC now owns 565,951 shares of the construction company’s stock worth $34,880,000 after purchasing an additional 318,300 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Trex by 7.5% in the third quarter. Artisan Partners Limited Partnership now owns 3,441,866 shares of the construction company’s stock worth $212,122,000 after purchasing an additional 240,850 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TREX shares. DA Davidson upped their price target on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Benchmark upped their price target on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. UBS Group upped their price objective 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. Finally, Stifel Nicolaus upped their price objective 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 equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $88.72.

Trex Stock Performance

TREX stock opened at $92.52 on Wednesday. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 2.06 and a beta of 1.60. The firm has a 50-day simple moving average of $93.81 and a two-hundred day simple moving average of $82.56. Trex Company, Inc. has a one year low of $51.03 and a one year high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities analysts predict that Trex Company, Inc. will post 2.22 earnings per share for the current fiscal 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.