Virtu Financial LLC Buys Shares of 9,728 Trex Company, Inc. (NYSE:TREX)

Virtu Financial LLC purchased a new position in Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,728 shares of the construction company’s stock, valued at approximately $721,000.

A number of other large investors also recently modified their holdings of TREX. Vanguard Group Inc. raised its position in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after buying an additional 65,428 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Trex by 19.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after purchasing an additional 660,536 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares during the period. American Century Companies Inc. boosted its stake in Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares in the last quarter. Finally, TD Asset Management Inc increased 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 valued at $132,545,000 after purchasing an additional 1,341,419 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Trading Up 4.8 %

Shares of TREX stock opened at $71.24 on Friday. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 2.25 and a beta of 1.50. Trex Company, Inc. has a 1-year low of $53.59 and a 1-year high of $101.91. The stock’s fifty day simple moving average is $69.90 and its 200-day simple moving average is $81.74.

Trex (NYSE:TREX) last released its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company 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 revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. On average, sell-side analysts predict that Trex Company, Inc. will post 2.03 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TREX shares. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Thursday. BMO Capital Markets reduced their price objective on shares of Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. DA Davidson lowered their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, B. Riley decreased their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.