Virtu Financial LLC Boosts Stake in Trex Company, Inc. (NYSE:TREX)

Virtu Financial LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 29.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,566 shares of the construction company’s stock after purchasing an additional 2,838 shares during the quarter. Virtu Financial LLC’s holdings in Trex were worth $837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. TD Private Client Wealth LLC increased its position in shares of Trex by 38.4% during the third quarter. TD Private Client Wealth LLC now owns 2,873 shares of the construction company’s stock valued at $191,000 after acquiring an additional 797 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Trex by 0.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 413,301 shares of the construction company’s stock valued at $27,518,000 after purchasing an additional 1,721 shares during the last quarter. M&T Bank Corp increased its holdings in Trex by 24.3% in the 3rd quarter. M&T Bank Corp now owns 4,055 shares of the construction company’s stock valued at $270,000 after purchasing an additional 793 shares during the last quarter. Finally, Barclays PLC raised its position in Trex by 8.8% in the third quarter. Barclays PLC now owns 149,623 shares of the construction company’s stock valued at $9,961,000 after purchasing an additional 12,085 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of NYSE TREX opened at $76.98 on Friday. The business has a 50-day moving average of $70.53 and a two-hundred day moving average of $72.15. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 3.63 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) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, equities research analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TREX shares. DA Davidson lifted their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Jefferies Financial Group reduced their price target 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. BMO Capital Markets upped their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Barclays decreased their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex 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.