Quantbot Technologies LP Has $3.27 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Quantbot Technologies LP lifted its position in Trex Company, Inc. (NYSE:TREX) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,151 shares of the construction company’s stock after purchasing an additional 2,430 shares during the quarter. Quantbot Technologies LP’s holdings in Trex were worth $3,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Trex during the 2nd quarter worth about $726,000. Wealth Enhancement Advisory Services LLC lifted its stake in Trex by 69.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock worth $2,073,000 after purchasing an additional 11,455 shares during the period. Renaissance Technologies LLC acquired a new stake in Trex during the second quarter valued at approximately $19,475,000. DekaBank Deutsche Girozentrale grew its stake in shares of Trex by 33.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock valued at $19,716,000 after purchasing an additional 50,000 shares during the period. Finally, L & S Advisors Inc acquired a new position in shares of Trex in the 3rd quarter worth approximately $1,000,000. 95.96% of the stock is owned by institutional investors.

Trex Stock Down 0.9 %

Shares of NYSE:TREX opened at $74.43 on Thursday. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.51 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company’s fifty day simple moving average is $68.30 and its 200 day simple moving average is $72.98.

Trex (NYSE:TREX) last posted its quarterly earnings data 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 company 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%. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Research analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TREX. DA Davidson upped their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Bank of America reduced their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, 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 research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trex presently has a consensus rating of “Hold” and an average target price 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.