71,560 Shares in Trex Company, Inc. (NYSE:TREX) Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP purchased a new stake in Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,560 shares of the construction company’s stock, valued at approximately $4,764,000. Concentric Capital Strategies LP owned 0.07% of Trex as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Harrington Investments INC boosted its holdings in Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after acquiring an additional 140 shares during the last quarter. First Citizens Bank & Trust Co. boosted 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 worth $523,000 after acquiring an additional 176 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after acquiring an additional 184 shares in the last quarter. Values First Advisors Inc. raised its position in shares of Trex by 3.6% during the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after purchasing an additional 230 shares during the period. Finally, ABLE Financial Group LLC grew its position in Trex by 3.6% in the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after purchasing an additional 240 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.8 %

TREX opened at $75.03 on Monday. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a market cap of $8.04 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.49. The company has a 50 day moving average of $68.61 and a 200 day moving average of $72.67.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 23.1% on a year-over-year basis. Research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TREX. JPMorgan Chase & Co. decreased their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. DA Davidson raised their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average price target of $79.94.

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.