Charles Schwab Investment Management Inc. Buys 27,992 Shares of Trex Company, Inc. (NYSE:TREX)

Charles Schwab Investment Management Inc. boosted its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 902,070 shares of the construction company's stock after purchasing an additional 27,992 shares during the period. Charles Schwab Investment Management Inc. owned about 0.84% of Trex worth $60,060,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in shares of Trex in the second quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in Trex in the second quarter valued at $44,000. Quarry LP increased its stake in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after acquiring an additional 513 shares during the last quarter. Mather Group LLC. increased its stake in Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after acquiring an additional 370 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after acquiring an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TREX shares. Jefferies Financial Group cut their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Robert W. Baird upped their price target on shares of Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Barclays cut their price target on shares of Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus cut their price target 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $79.94.

Trex Stock Up 0.8 %

Shares of NYSE TREX traded up $0.60 on Friday, reaching $75.03. 362,579 shares of the company's stock traded hands, compared to its average volume of 1,018,332. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The business's 50 day simple moving average is $68.61 and its two-hundred day simple moving average is $72.92. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.39 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 earnings per share for the quarter, beating 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 earnings per share. The business's revenue for the quarter was down 23.1% on a year-over-year basis. Analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

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.