Argonautica Private Wealth Management Inc. Buys Shares of 6,447 Trex Company, Inc. (NYSE:TREX)

Argonautica Private Wealth Management Inc. purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,447 shares of the construction company’s stock, valued at approximately $429,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Trex by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,512 shares of the construction company’s stock valued at $1,647,000 after purchasing an additional 573 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Trex by 18.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 124,389 shares of the construction company’s stock valued at $12,408,000 after acquiring an additional 19,286 shares in the last quarter. Van ECK Associates Corp increased its holdings in Trex by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 43,442 shares of the construction company’s stock valued at $4,333,000 after acquiring an additional 11,619 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Trex by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 65,536 shares of the construction company’s stock valued at $6,537,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Trex in the first quarter valued at about $412,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

Trex stock opened at $70.76 on Friday. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The stock’s 50-day moving average is $65.66 and its 200-day moving average is $75.37.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TREX shares. Citigroup reduced their target price on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. UBS Group dropped their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, Benchmark cut their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trex presently has an average 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.