Trex Company, Inc. (NYSE:TREX) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,329 shares of the construction company’s stock after buying an additional 10,454 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Trex were worth $3,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in shares of Trex in the second quarter valued at $31,000. UMB Bank n.a. lifted its holdings in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter valued at $44,000. Quarry LP increased its stake in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after acquiring an additional 370 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Shares of Trex stock opened at $68.22 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.30 and a beta of 1.49. The firm has a 50 day simple moving average of $67.39 and a 200 day simple moving average of $74.18. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the business earned $0.57 EPS. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts expect that Trex Company, Inc. will post 2.05 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TREX. Jefferies Financial Group lowered their target price 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. B. Riley cut their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays cut their price target 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. UBS Group cut their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price 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.