PineStone Asset Management Inc. Has $11.22 Million Holdings in Trex Company, Inc. (NYSE:TREX)

PineStone Asset Management Inc. boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 162,569 shares of the construction company’s stock after acquiring an additional 23,200 shares during the period. PineStone Asset Management Inc.’s holdings in Trex were worth $11,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at approximately $30,000. Mather Group LLC. lifted its holdings in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Trex in the fourth quarter worth $41,000. Finally, V Square Quantitative Management LLC increased its position in Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after acquiring an additional 202 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on TREX shares. DA Davidson boosted their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Finally, BMO Capital Markets lifted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $79.81.

Trex Price Performance

NYSE TREX opened at $67.25 on Friday. The stock’s 50 day simple moving average is $71.44 and its 200 day simple moving average is $69.24. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The firm has a market cap of $7.20 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51.

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.