MQS Management LLC Has $445,000 Holdings in Trex Company, Inc. (NYSE:TREX)

MQS Management LLC lifted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 36.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,003 shares of the construction company’s stock after buying an additional 1,602 shares during the quarter. MQS Management LLC’s holdings in Trex were worth $445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Trex in the fourth quarter valued at about $113,613,000. TD Asset Management Inc grew its position in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after buying an additional 1,341,419 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Trex by 250.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after buying an additional 670,665 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Trex by 19.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after acquiring an additional 660,536 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Trex in the 2nd quarter valued at approximately $19,475,000. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. DA Davidson decreased their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Stifel Nicolaus reduced their target price on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Truist Financial cut their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, B. Riley decreased their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Trading Up 4.8 %

NYSE TREX opened at $71.24 on Friday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The stock has a 50 day moving average of $69.90 and a 200-day moving average of $81.74. The company has a market cap of $7.74 billion, a PE ratio of 30.58, a PEG ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. As a group, sell-side analysts predict that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

About Trex

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.