JPMorgan Chase & Co. Acquires 393,850 Shares of Trex Company, Inc. (NYSE:TREX)

JPMorgan Chase & Co. grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 97.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 797,513 shares of the construction company’s stock after acquiring an additional 393,850 shares during the quarter. JPMorgan Chase & Co.’s holdings in Trex were worth $53,098,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its position in Trex by 9.8% during the second quarter. Natixis Advisors LLC now owns 48,603 shares of the construction company’s stock valued at $3,602,000 after acquiring an additional 4,344 shares during the last quarter. Arizona State Retirement System increased its position in shares of Trex by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 30,410 shares of the construction company’s stock valued at $2,254,000 after purchasing an additional 565 shares during the last quarter. Candriam S.C.A. bought a new position in shares of Trex in the 2nd quarter worth approximately $4,355,000. EFG Asset Management Americas Corp. boosted its holdings in shares of Trex by 38.4% in the second quarter. EFG Asset Management Americas Corp. now owns 64,172 shares of the construction company’s stock worth $4,756,000 after buying an additional 17,799 shares during the last quarter. Finally, Harrington Investments INC grew its position in Trex by 1.4% during the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after buying an additional 140 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Up 1.7 %

Shares of Trex stock opened at $69.43 on Friday. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The stock has a 50 day moving average of $72.60 and a 200 day moving average of $70.71. The firm has a market cap of $7.44 billion, a PE ratio of 31.70, a PEG ratio of 3.50 and a beta of 1.49.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period in the prior year, the company earned $0.57 EPS. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TREX. Robert W. Baird increased their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. BMO Capital Markets upped their price target on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trex presently has an average rating of “Hold” and an average target price of $79.94.

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.