Marshall Wace LLP Has $436,000 Stock Position in Trex Company, Inc. (NYSE:TREX)

Marshall Wace LLP trimmed its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 92.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,881 shares of the construction company's stock after selling 74,370 shares during the period. Marshall Wace LLP's holdings in Trex were worth $436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mather Group LLC. acquired a new stake in shares of Trex in the first quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of Trex in the fourth quarter worth about $25,000. Sunbelt Securities Inc. increased its stake in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company's stock worth $33,000 after purchasing an additional 314 shares during the period. Rise Advisors LLC boosted its stake in Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company's stock valued at $40,000 after purchasing an additional 305 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in Trex during the 2nd quarter valued at approximately $31,000. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TREX shares. Stephens cut Trex from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. B. Riley reduced their target price on Trex from $107.00 to $97.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their target price on shares of Trex from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Loop Capital lowered Trex from a "buy" rating to a "hold" rating and lowered their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.31.

Trex Stock Up 1.5 %

Shares of Trex stock traded up $0.94 during trading on Friday, reaching $64.51. 857,386 shares of the company were exchanged, compared to its average volume of 958,893. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91. The business has a 50-day moving average price of $65.18 and a 200-day moving average price of $78.47. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 2.19 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Trex 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.