Cim LLC Acquires 563 Shares of Trex Company, Inc. (NYSE:TREX)

Cim LLC lifted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,666 shares of the construction company’s stock after acquiring an additional 563 shares during the quarter. Cim LLC’s holdings in Trex were worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. V Square Quantitative Management LLC purchased a new stake in Trex in the fourth quarter worth $25,000. Mather Group LLC. purchased a new stake in shares of Trex during the first quarter valued at $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Trex during the second quarter valued at $31,000. Sunbelt Securities Inc. boosted its position in shares of Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares during the last quarter. Finally, Rise Advisors LLC boosted its position in shares of Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of Trex stock opened at $67.75 on Wednesday. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50. The stock has a 50 day moving average price of $67.88 and a 200-day moving average price of $80.22. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) 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 firm had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same period last year, the company earned $0.71 EPS. Trex’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TREX shares. B. Riley dropped their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson lowered their target price on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. UBS Group lowered their target price on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered their target price for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex has an average rating of “Hold” and an average target price 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.