Trex Company, Inc. (NYSE:TREX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,873,455 shares of the construction company's stock after purchasing an additional 35,039 shares during the quarter. Geode Capital Management LLC owned 1.75% of Trex worth $124,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter valued at $31,000. UMB Bank n.a. boosted its position in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after buying an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Trex in the 2nd quarter worth about $44,000. Quarry LP increased its position in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after acquiring an additional 513 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Trex by 51.4% in the second quarter. Blue Trust Inc. now owns 754 shares of the construction company's stock valued at $56,000 after purchasing an additional 256 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. Barclays cut their target price on shares of Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 29th. BMO Capital Markets lifted their price objective on shares of Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group dropped their price objective on Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $79.94.

Trex Stock Performance

Shares of NYSE TREX traded down $5.15 during mid-day trading on Wednesday, hitting $71.66. The stock had a trading volume of 1,580,263 shares, compared to its average volume of 1,042,955. The firm has a market cap of $7.68 billion, a PE ratio of 32.72, a PEG ratio of 3.50 and a beta of 1.49. The company has a 50 day moving average of $71.03 and a two-hundred day moving average of $71.82. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period in the prior year, the company earned $0.57 earnings per share. The company's revenue was down 23.1% on a year-over-year basis. Equities research analysts predict that Trex Company, Inc. will post 2.05 EPS 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.