Global Retirement Partners LLC Increases Position in Trex Company, Inc. (NYSE:TREX)

Global Retirement Partners LLC grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 14.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,806 shares of the construction company’s stock after buying an additional 467 shares during the period. Global Retirement Partners LLC’s holdings in Trex were worth $263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TREX. Wasatch Advisors LP grew its position in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares during the last quarter. State Street Corp increased its stake in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after buying an additional 37,436 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Trex by 0.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock valued at $135,834,000 after buying an additional 17,405 shares in the last quarter. Geode Capital Management LLC boosted its position in Trex by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after buying an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in Trex in the 4th quarter worth about $110,414,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of NYSE:TREX opened at $61.72 on Tuesday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. The business’s 50-day moving average is $69.83 and its 200 day moving average is $68.73.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

TREX has been the subject of several research analyst reports. Robert W. Baird lifted their price target 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. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, DA Davidson raised their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $79.81.

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.