Edgestream Partners L.P. Invests $2.52 Million in Trex Company, Inc. (NYSE:TREX)

Edgestream Partners L.P. bought a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 34,010 shares of the construction company’s stock, valued at approximately $2,521,000.

Other institutional investors have also bought and sold shares of the company. Vident Advisory LLC bought a new position in shares of Trex in the first quarter worth about $4,013,000. Comerica Bank boosted its stake in Trex by 3.8% in the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the period. Broad Bay Capital Management LP grew its holdings in Trex by 3.8% during the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after buying an additional 15,000 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock valued at $8,173,000 after buying an additional 4,534 shares during the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of Trex by 54.1% in the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after buying an additional 16,738 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.2 %

Shares of NYSE TREX opened at $68.00 on Thursday. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The stock’s fifty day simple moving average is $70.04 and its two-hundred day simple moving average is $81.82. The stock has a market capitalization of $7.39 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities analysts predict that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research reports. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Barclays decreased their price target on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, UBS Group reduced their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.88.

Trex Company 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.