Algert Global LLC Has $5.75 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Algert Global LLC increased its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 81.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,300 shares of the construction company's stock after purchasing an additional 38,700 shares during the period. Algert Global LLC owned 0.08% of Trex worth $5,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nicolet Advisory Services LLC increased its position in Trex by 5.2% in the third quarter. Nicolet Advisory Services LLC now owns 7,809 shares of the construction company's stock worth $532,000 after buying an additional 389 shares during the period. Citigroup Inc. grew its position in shares of Trex by 42.3% during the third quarter. Citigroup Inc. now owns 68,775 shares of the construction company's stock worth $4,579,000 after acquiring an additional 20,445 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Trex by 20.4% during the third quarter. Eagle Asset Management Inc. now owns 46,653 shares of the construction company's stock worth $3,394,000 after acquiring an additional 7,902 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Trex by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company's stock worth $60,060,000 after acquiring an additional 27,992 shares during the period. Finally, L & S Advisors Inc bought a new stake in Trex in the 3rd quarter valued at about $1,000,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TREX has been the subject of several analyst reports. BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Benchmark lowered their price target on Trex from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Robert W. Baird upped 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. Stephens cut shares of Trex from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $79.94.

Trex Stock Performance

Shares of NYSE:TREX traded up $1.91 during midday trading on Friday, reaching $72.25. The company had a trading volume of 894,387 shares, compared to its average volume of 1,616,635. The company has a fifty day simple moving average of $67.94 and a two-hundred day simple moving average of $73.18. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for 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 firm's quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Analysts expect that Trex Company, Inc. will post 2.05 EPS for the current year.

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.