UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Trex Company, Inc. (NYSE:TREX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,141 shares of the construction company's stock after selling 80,990 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.34% of Trex worth $24,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FORA Capital LLC purchased a new stake in Trex during the 3rd quarter worth approximately $1,309,000. CreativeOne Wealth LLC grew its stake in shares of Trex by 58.6% in the third quarter. CreativeOne Wealth LLC now owns 8,903 shares of the construction company's stock worth $593,000 after acquiring an additional 3,291 shares in the last quarter. Blueshift Asset Management LLC increased its position in shares of Trex by 27.2% during the third quarter. Blueshift Asset Management LLC now owns 12,710 shares of the construction company's stock worth $846,000 after acquiring an additional 2,717 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Trex by 85.8% in the third quarter. BNP Paribas Financial Markets now owns 149,587 shares of the construction company's stock valued at $9,960,000 after acquiring an additional 69,073 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in Trex in the third quarter valued at $2,010,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Up 2.1 %

NYSE:TREX traded up $1.61 during mid-day trading on Friday, reaching $77.63. 1,028,583 shares of the stock were exchanged, compared to its average volume of 1,017,306. The company has a 50 day simple moving average of $69.44 and a 200-day simple moving average of $72.49. 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. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data 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. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same period last year, the firm posted $0.57 EPS. Trex's revenue for the quarter was down 23.1% on a year-over-year basis. As a group, research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price 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. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on shares of Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. Finally, DA Davidson lifted their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.94.

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.