Impax Asset Management Group plc Has $54.75 Million Position in Trex Company, Inc. (NYSE:TREX)

Impax Asset Management Group plc increased its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 44.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,361 shares of the construction company's stock after buying an additional 252,262 shares during the period. Impax Asset Management Group plc owned 0.76% of Trex worth $54,753,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vident Advisory LLC bought a new position in Trex during the first quarter worth about $4,013,000. Comerica Bank grew its holdings in Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company's stock valued at $21,689,000 after purchasing an additional 8,036 shares during the period. Duality Advisers LP increased its stake in Trex by 54.1% in the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company's stock valued at $4,756,000 after purchasing an additional 16,738 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company's stock worth $7,746,000 after purchasing an additional 17,376 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Trex during the second quarter worth $726,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Up 2.5 %

Shares of TREX traded up $1.74 during midday trading on Tuesday, hitting $72.28. The company's stock had a trading volume of 1,260,581 shares, compared to its average volume of 1,016,822. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. The company's fifty day simple moving average is $65.74 and its two-hundred day simple moving average is $75.07.

Trex (NYSE:TREX - Get Free Report) last released its 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 firm had revenue of $233.72 million for the quarter, compared to analysts' expectations of $225.42 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business's revenue for the quarter was down 23.1% on a year-over-year basis. On average, research analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TREX shares. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Loop Capital cut shares of Trex from a "buy" rating to a "hold" rating and reduced their price target for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. B. Riley dropped their price objective on shares of Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $79.94.

Trex Company 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.