EFG Asset Management Americas Corp. Has $4.76 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

EFG Asset Management Americas Corp. lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 38.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,172 shares of the construction company’s stock after purchasing an additional 17,799 shares during the quarter. EFG Asset Management Americas Corp. owned approximately 0.06% of Trex worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Trex during the fourth quarter valued at approximately $113,613,000. TD Asset Management Inc raised its stake in Trex by 516.8% during the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after acquiring an additional 1,341,419 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Trex by 250.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock valued at $77,702,000 after acquiring an additional 670,665 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Trex by 19.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after purchasing an additional 660,536 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in Trex by 287.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock valued at $32,400,000 after purchasing an additional 240,989 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays reduced their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. Finally, UBS Group lowered their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.88.

Trex Stock Performance

TREX traded up $0.89 during midday trading on Friday, reaching $61.74. 965,847 shares of the company were exchanged, compared to its average volume of 927,151. The stock has a market capitalization of $6.71 billion, a P/E ratio of 26.50, a PEG ratio of 2.05 and a beta of 1.50. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91. The stock’s 50-day simple moving average is $71.15 and its 200 day simple moving average is $83.43.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Trex Company, Inc. will post 2.06 earnings per share for the current year.

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.