Quantbot Technologies LP Has $2.02 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Quantbot Technologies LP lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 24.8% during the first quarter, HoldingsChannel.com reports. The firm owned 20,270 shares of the construction company’s stock after selling 6,671 shares during the period. Quantbot Technologies LP’s holdings in Trex were worth $2,022,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Trex in the fourth quarter worth $25,000. Mather Group LLC. bought a new stake in Trex during the first quarter worth $26,000. Contravisory Investment Management Inc. bought a new stake in Trex during the fourth quarter worth $28,000. Headinvest LLC bought a new stake in Trex during the third quarter worth $29,000. Finally, Sunbelt Securities Inc. raised its position in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TREX. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Trex in a research report on Tuesday, May 14th. Loop Capital dropped their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup dropped their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, DA Davidson decreased their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.76.

Trex Stock Performance

Shares of TREX stock traded up $3.18 on Friday, hitting $81.56. The company’s stock had a trading volume of 1,629,750 shares, compared to its average volume of 843,604. The stock’s 50 day moving average is $82.64 and its 200-day moving average is $87.10. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The company has a market capitalization of $8.87 billion, a PE ratio of 35.00, a PEG ratio of 1.64 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, research analysts forecast that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares in the company, valued at $2,340,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

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.