Entropy Technologies LP Boosts Stake in Trex Company, Inc. (NYSE:TREX)

Entropy Technologies LP grew its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 287.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,811 shares of the construction company's stock after buying an additional 12,468 shares during the quarter. Entropy Technologies LP's holdings in Trex were worth $1,119,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vident Advisory LLC purchased a new position in Trex during the first quarter worth $4,013,000. Comerica Bank raised its position in Trex by 3.8% in the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company's stock worth $21,689,000 after purchasing an additional 8,036 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Trex by 28.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company's stock worth $7,746,000 after buying an additional 17,376 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Trex in the second quarter valued at about $726,000. Finally, Interval Partners LP purchased a new stake in Trex in the first quarter worth about $5,150,000. Institutional investors own 95.96% of the company's stock.

Trex Stock Down 2.5 %

Shares of TREX stock traded down $1.82 on Thursday, hitting $70.82. The company had a trading volume of 1,338,159 shares, compared to its average volume of 1,022,015. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The firm has a market cap of $7.59 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49. The company has a 50-day moving average price of $67.26 and a 200-day moving average price of $74.33.

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, beating analysts' consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period in the previous year, the company posted $0.57 earnings per share. Trex's revenue for the quarter was down 23.1% on a year-over-year basis. Equities research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

TREX has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price objective on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Jefferies Financial Group reduced their target price on shares of Trex from $77.00 to $73.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. Bank of America lowered their price target on shares of Trex from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, Stephens lowered shares of Trex from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Two investment 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. According to MarketBeat.com, Trex presently has an average rating of "Hold" and an average price target 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.