Liontrust Investment Partners LLP Grows Holdings in Trex Company, Inc. (NYSE:TREX)

Liontrust Investment Partners LLP raised its holdings in Trex Company, Inc. (NYSE:TREX) by 57.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,856,657 shares of the construction company’s stock after purchasing an additional 675,857 shares during the quarter. Trex comprises approximately 1.3% of Liontrust Investment Partners LLP’s portfolio, making the stock its 28th largest holding. Liontrust Investment Partners LLP owned about 1.71% of Trex worth $90,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TREX. Impax Asset Management Group plc purchased a new position in Trex during the first quarter worth about $53,353,000. BlackRock Inc. lifted its holdings in Trex by 8.4% in the 1st quarter. BlackRock Inc. now owns 13,421,758 shares of the construction company’s stock valued at $653,237,000 after purchasing an additional 1,034,669 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Trex by 45.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,793,264 shares of the construction company’s stock worth $135,948,000 after acquiring an additional 877,113 shares during the period. Norges Bank acquired a new position in Trex in the fourth quarter valued at $35,763,000. Finally, Millennium Management LLC lifted its holdings in shares of Trex by 389.9% during the 4th quarter. Millennium Management LLC now owns 892,913 shares of the construction company’s stock worth $37,797,000 after acquiring an additional 710,648 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 2.5 %

Shares of NYSE TREX traded down $1.70 during trading on Friday, reaching $67.33. The company had a trading volume of 759,064 shares, compared to its average volume of 781,150. Trex Company, Inc. has a 12 month low of $38.68 and a 12 month high of $76.05. The company’s fifty day moving average price is $69.79 and its 200-day moving average price is $59.25. The stock has a market cap of $7.31 billion, a P/E ratio of 51.40, a PEG ratio of 3.07 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. The business had revenue of $356.54 million for the quarter, compared to analyst estimates of $318.89 million. Trex had a return on equity of 28.15% and a net margin of 14.62%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. As a group, equities analysts predict that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TREX shares. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Trex in a report on Friday. Truist Financial boosted their price objective on Trex from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Loop Capital raised their target price on Trex from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on Trex in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Benchmark upped their price target on Trex from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.94.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.