Algert Global LLC Has $3.53 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Algert Global LLC trimmed its position in Trex Company, Inc. (NYSE:TREX) by 18.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,600 shares of the construction company’s stock after selling 10,910 shares during the quarter. Algert Global LLC’s holdings in Trex were worth $3,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Scientech Research LLC boosted its holdings in shares of Trex by 302.0% during the second quarter. Scientech Research LLC now owns 13,581 shares of the construction company’s stock worth $1,007,000 after purchasing an additional 10,203 shares during the period. Millennium Management LLC raised its position in shares of Trex by 354.7% in the second quarter. Millennium Management LLC now owns 206,206 shares of the construction company’s stock valued at $15,284,000 after purchasing an additional 160,853 shares during the period. Alpha DNA Investment Management LLC raised its position in shares of Trex by 9.7% in the second quarter. Alpha DNA Investment Management LLC now owns 5,734 shares of the construction company’s stock valued at $425,000 after purchasing an additional 505 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Trex during the second quarter worth $445,000. Finally, Fred Alger Management LLC increased its position in Trex by 20.4% during the second quarter. Fred Alger Management LLC now owns 509,913 shares of the construction company’s stock worth $37,795,000 after acquiring an additional 86,559 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of TREX opened at $66.56 on Tuesday. The stock’s 50-day simple moving average is $67.88 and its 200 day simple moving average is $80.22. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. Trex’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. On average, research analysts forecast that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. DA Davidson cut their target price on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. B. Riley cut their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets dropped their target price on shares of Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.88.

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.