Dimensional Fund Advisors LP Acquires 92,563 Shares of Trex Company, Inc. (NYSE:TREX)

Dimensional Fund Advisors LP increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 8.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,224,351 shares of the construction company’s stock after purchasing an additional 92,563 shares during the period. Dimensional Fund Advisors LP owned 1.13% of Trex worth $90,752,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in 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 purchasing an additional 1,341,419 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Trex by 250.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock valued at $77,702,000 after purchasing an additional 670,665 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Trex by 287.5% in the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock worth $32,400,000 after buying an additional 240,989 shares during the last quarter. Federated Hermes Inc. raised its stake in Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after acquiring an additional 217,767 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in Trex during the 2nd quarter valued at about $15,635,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 4.9 %

Shares of TREX opened at $66.40 on Thursday. The stock has a market cap of $7.22 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The firm’s fifty day moving average is $68.76 and its two-hundred day moving average is $80.92.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company 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 company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Trex Company, Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. B. Riley reduced their target price 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. DA Davidson reduced their price objective on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.88.

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.