Renaissance Technologies LLC Takes Position in Trex Company, Inc. (NYSE:TREX)

Renaissance Technologies LLC bought a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 262,752 shares of the construction company's stock, valued at approximately $19,475,000. Renaissance Technologies LLC owned approximately 0.24% of Trex as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its position in shares of Trex by 10.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,777 shares of the construction company's stock valued at $313,000 after acquiring an additional 370 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Trex by 27.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 6,321 shares of the construction company's stock worth $523,000 after buying an additional 1,378 shares in the last quarter. Norges Bank bought a new stake in shares of Trex in the 4th quarter worth about $113,613,000. Coldstream Capital Management Inc. raised its position in shares of Trex by 3.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 6,412 shares of the construction company's stock valued at $531,000 after buying an additional 190 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Trex by 19.2% in the fourth quarter. D.A. Davidson & CO. now owns 7,504 shares of the construction company's stock worth $621,000 after acquiring an additional 1,210 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TREX shares. Citigroup cut their target price on Trex from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, July 11th. Loop Capital cut shares of Trex from a "buy" rating to a "hold" rating and cut their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. DA Davidson lowered their target price on shares of Trex from $89.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, July 3rd. StockNews.com raised shares of Trex from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $80.88.

Trex Stock Performance

Trex stock traded down $2.09 during midday trading on Friday, hitting $69.15. 1,701,714 shares of the company's stock were exchanged, compared to its average volume of 938,348. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a market cap of $7.52 billion, a PE ratio of 29.68, a P/E/G ratio of 2.25 and a beta of 1.50. The firm has a 50-day moving average of $69.65 and a two-hundred day moving average of $81.47.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex's revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. As a group, equities analysts expect that Trex Company, Inc. will post 2.03 earnings per share for the current 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.