BNP Paribas Financial Markets Increases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

BNP Paribas Financial Markets increased its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 85.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,587 shares of the construction company's stock after purchasing an additional 69,073 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.14% of Trex worth $9,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. The Manufacturers Life Insurance Company lifted its position in shares of Trex by 462.4% during the 3rd 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 during the last quarter. Renaissance Technologies LLC purchased a new stake in Trex in the second quarter valued at $19,475,000. Impax Asset Management Group plc lifted its position in Trex by 44.2% in the third 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 during the last quarter. Federated Hermes Inc. boosted its stake in Trex by 39.1% in the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company's stock valued at $57,375,000 after acquiring an additional 217,767 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in shares of Trex during the second quarter worth about $15,635,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

TREX traded up $0.49 during midday trading on Monday, reaching $75.52. 969,341 shares of the company's stock were exchanged, compared to its average volume of 1,018,120. The business's 50-day moving average price is $68.61 and its 200 day moving average price is $72.67. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The stock has a market capitalization of $8.09 billion, a PE ratio of 34.96, a P/E/G ratio of 3.41 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating 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%. Trex's quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TREX shares. B. Riley reduced their target price on Trex from $107.00 to $97.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. 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. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Finally, Loop Capital downgraded shares of Trex from a "buy" rating to a "hold" rating and reduced their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $79.94.

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.