Fmr LLC Buys 71,761 Shares of Trex Company, Inc. (NYSE:TREX)

FMR LLC increased its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,262,920 shares of the construction company's stock after purchasing an additional 71,761 shares during the period. FMR LLC owned approximately 1.18% of Trex worth $84,085,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Trex during the 3rd quarter valued at $1,878,000. The Manufacturers Life Insurance Company lifted its position in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company's stock worth $35,231,000 after buying an additional 435,055 shares during the last quarter. Bank of Montreal Can boosted its stake in Trex by 227.7% in the third quarter. Bank of Montreal Can now owns 120,162 shares of the construction company's stock worth $8,158,000 after buying an additional 83,491 shares in the last quarter. Associated Banc Corp grew its holdings in shares of Trex by 5.3% during the 3rd quarter. Associated Banc Corp now owns 11,191 shares of the construction company's stock valued at $745,000 after purchasing an additional 562 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in Trex by 237.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company's stock valued at $3,534,000 after buying an additional 37,362 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TREX has been the subject of several recent research reports. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group lowered their price target 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. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Robert W. Baird upped their price objective on shares of Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.94.

Trex Stock Performance

Shares of Trex stock traded up $1.61 during midday trading on Friday, hitting $77.63. The company had a trading volume of 1,028,583 shares, compared to its average volume of 1,017,306. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The stock has a market capitalization of $8.32 billion, a P/E ratio of 35.45, a P/E/G ratio of 3.51 and a beta of 1.49. The company has a 50 day moving average of $69.25 and a 200 day moving average of $72.56.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business's revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

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.