KBC Group NV Boosts Holdings in Trex Company, Inc. (NYSE:TREX)

KBC Group NV increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 336.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,719 shares of the construction company’s stock after purchasing an additional 39,108 shares during the quarter. KBC Group NV’s holdings in Trex were worth $3,377,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Trex in the second quarter valued at $19,475,000. Impax Asset Management Group plc raised its holdings in Trex by 44.2% in the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock valued at $54,753,000 after buying an additional 252,262 shares during the period. Federated Hermes Inc. lifted its position in Trex by 39.1% in the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock valued at $57,375,000 after buying an additional 217,767 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in Trex during the second quarter worth about $15,635,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Trex by 514.3% during the second quarter. Cubist Systematic Strategies LLC now owns 211,579 shares of the construction company’s stock valued at $15,682,000 after acquiring an additional 177,136 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Trex stock opened at $68.23 on Monday. The stock has a market cap of $7.31 billion, a PE ratio of 31.16, a P/E/G ratio of 3.10 and a beta of 1.49. The stock’s fifty day moving average is $67.39 and its two-hundred day moving average is $73.98. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

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

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.94.

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.