Marshall Wace LLP Sells 74,370 Shares of Trex Company, Inc. (NYSE:TREX)

Marshall Wace LLP lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 92.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,881 shares of the construction company’s stock after selling 74,370 shares during the quarter. Marshall Wace LLP’s holdings in Trex were worth $436,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Trex by 11.3% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock valued at $121,000 after purchasing an additional 123 shares during the period. Harrington Investments INC lifted its holdings in shares of Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after buying an additional 140 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Trex by 4.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after acquiring an additional 173 shares during the period. First Citizens Bank & Trust Co. grew its stake in Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after acquiring an additional 176 shares in the last quarter. Finally, Values First Advisors Inc. increased its holdings in Trex by 3.6% during the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the subject of a number of recent analyst reports. DA Davidson reduced their price target on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Citigroup cut their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and lowered their target price for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.31.

Trex Trading Down 1.7 %

Shares of NYSE:TREX opened at $63.57 on Friday. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The stock’s 50-day moving average price is $65.44 and its 200-day moving average price is $78.72. The stock has a market capitalization of $6.91 billion, a P/E ratio of 27.28, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. As a group, research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current 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.