Benjamin Edwards Inc. Purchases Shares of 11,020 Trex Company, Inc. (NYSE:TREX)

Benjamin Edwards Inc. bought a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,020 shares of the construction company's stock, valued at approximately $734,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of Trex during the second quarter valued at $726,000. Wealth Enhancement Advisory Services LLC grew its stake in Trex by 69.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company's stock valued at $2,073,000 after purchasing an additional 11,455 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Trex during the 2nd quarter valued at about $19,475,000. L & S Advisors Inc acquired a new position in shares of Trex in the third quarter valued at about $1,000,000. Finally, Algert Global LLC raised its stake in shares of Trex by 81.3% in the third quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock worth $5,746,000 after purchasing an additional 38,700 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of NYSE TREX traded up $1.61 during trading on Friday, hitting $77.63. 1,028,613 shares of the company were exchanged, compared to its average volume of 931,550. The company has a fifty day moving average price of $69.44 and a 200-day moving average price of $72.38. The firm has a market capitalization of $8.32 billion, a PE ratio of 35.45, a P/E/G ratio of 3.53 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.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly 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. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter last year, the firm earned $0.57 EPS. The business's revenue was down 23.1% compared to the same quarter last year. Research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a report on Wednesday, October 9th. Finally, DA Davidson lifted their price target on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.