Point72 DIFC Ltd Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

Point72 DIFC Ltd raised its holdings in Trex Company, Inc. (NYSE:TREX) by 1,176.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 32,819 shares of the construction company’s stock after acquiring an additional 30,248 shares during the period. Point72 DIFC Ltd’s holdings in Trex were worth $2,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its stake in shares of Trex by 516.8% in the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after buying an additional 1,341,419 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Trex by 250.4% in 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. Renaissance Technologies LLC acquired a new stake in shares of Trex during the 2nd quarter worth approximately $19,475,000. Motley Fool Asset Management LLC lifted its stake in shares of Trex by 287.5% in 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 period. Finally, Federated Hermes Inc. boosted its holdings in Trex by 39.1% during the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after buying an additional 217,767 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. B. Riley cut their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial cut their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. DA Davidson lowered their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Bank of America decreased their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $80.88.

Trex Stock Performance

NYSE:TREX opened at $69.81 on Wednesday. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91. The stock has a market cap of $7.59 billion, a PE ratio of 29.96, a P/E/G ratio of 2.37 and a beta of 1.50. The stock has a 50 day moving average price of $69.10 and a 200 day moving average price of $81.02.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts predict that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal 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.