Trex Company, Inc. $TREX Stock Position Boosted by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 300,462 shares of the construction company’s stock after purchasing an additional 7,662 shares during the quarter. Trex comprises about 4.2% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 6th biggest holding. Montanaro Asset Management Ltd’s holdings in Trex were worth $16,339,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TREX. Armstrong Advisory Group Inc. purchased a new position in Trex during the second quarter worth about $31,000. Parallel Advisors LLC lifted its position in Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock worth $57,000 after buying an additional 232 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Trex during the second quarter worth about $60,000. Brooklyn Investment Group lifted its position in Trex by 35,733.3% during the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company’s stock worth $62,000 after buying an additional 1,072 shares during the period. Finally, CWM LLC raised its holdings in shares of Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TREX. Zacks Research lowered Trex from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Trex in a research note on Wednesday, October 8th. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. The Goldman Sachs Group reduced their price objective on Trex from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $74.00 price objective (up from $72.00) on shares of Trex in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.71.

Trex Stock Up 0.9%

TREX stock opened at $48.24 on Monday. Trex Company, Inc. has a 52-week low of $47.03 and a 52-week high of $80.74. The stock’s 50 day moving average is $54.81 and its two-hundred day moving average is $57.80. The company has a market capitalization of $5.17 billion, a PE ratio of 27.88, a P/E/G ratio of 2.02 and a beta of 1.49.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Trex had a return on equity of 21.27% and a net margin of 16.53%.The company had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.49 million. During the same period in the previous year, the business earned $0.80 EPS. Trex’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Transactions at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of Trex stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total transaction of $98,708.84. Following the sale, the senior vice president directly owned 22,953 shares in the company, valued at $1,473,123.54. The trade was a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.