Van ECK Associates Corp Purchases 23,351 Shares of Trex Company, Inc. (NYSE:TREX)

Van ECK Associates Corp grew its position in shares of Trex Company, Inc. (NYSE:TREX) by 40.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,726 shares of the construction company’s stock after buying an additional 23,351 shares during the quarter. Van ECK Associates Corp owned approximately 0.08% of Trex worth $5,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in Trex during the second quarter worth about $31,000. UMB Bank n.a. grew its stake in Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex during the second quarter valued at approximately $44,000. Quarry LP grew its stake in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and decreased their price target for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Truist Financial decreased their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley reduced their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Stock Up 1.2 %

Shares of NYSE TREX opened at $72.76 on Friday. The company’s fifty day moving average is $66.40 and its 200-day moving average is $74.81. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 3.29 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, research analysts anticipate that Trex Company, Inc. will post 2.05 EPS 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.