Blueshift Asset Management LLC Has $846,000 Holdings in Trex Company, Inc. (NYSE:TREX)

Blueshift Asset Management LLC raised its stake in shares of Trex Company, Inc. (NYSE:TREX) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,710 shares of the construction company’s stock after purchasing an additional 2,717 shares during the quarter. Blueshift Asset Management LLC’s holdings in Trex were worth $846,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TREX. The Manufacturers Life Insurance Company boosted its stake in Trex by 462.4% during the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Trex during the 2nd quarter valued at about $19,475,000. Impax Asset Management Group plc boosted its position in shares of Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock valued at $54,753,000 after acquiring an additional 252,262 shares in the last quarter. Federated Hermes Inc. raised its position in Trex by 39.1% in the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after purchasing an additional 217,767 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Trex during the second quarter worth about $15,635,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Down 0.9 %

NYSE:TREX opened at $74.43 on Thursday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The stock’s fifty day simple moving average is $68.30 and its 200-day simple moving average is $72.98. The firm has a market capitalization of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last issued 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 for the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company’s revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. As a group, equities research analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TREX shares. Benchmark dropped their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Stifel Nicolaus dropped their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays reduced their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Robert W. Baird raised their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.