Geode Capital Management LLC Boosts Holdings in Trex Company, Inc. (NYSE:TREX)

Geode Capital Management LLC boosted its stake in Trex Company, Inc. (NYSE:TREX) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,873,455 shares of the construction company’s stock after acquiring an additional 35,039 shares during the period. Geode Capital Management LLC owned about 1.75% of Trex worth $124,766,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new stake in shares of Trex in the 2nd quarter valued at about $31,000. UMB Bank n.a. increased its position in Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after buying an additional 392 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Trex in the second quarter valued at approximately $44,000. Quarry LP boosted its holdings in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Trex by 51.4% during the second quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock worth $56,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Down 1.0 %

Shares of NYSE TREX opened at $76.86 on Wednesday. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The firm has a 50-day moving average price of $70.78 and a 200 day moving average price of $71.89.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company 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 for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. Equities research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TREX. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird increased their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.94.

Trex 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.