TD Asset Management Inc. Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

TD Asset Management Inc. grew its holdings in Trex Company, Inc. (NYSE:TREX) by 238.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 441,048 shares of the construction company’s stock after acquiring an additional 310,791 shares during the period. TD Asset Management Inc.’s holdings in Trex were worth $31,579,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its holdings in Trex by 50.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock valued at $20,742,000 after purchasing an additional 113,161 shares in the last quarter. Parallel Advisors LLC grew its holdings in Trex by 24.6% during the 2nd quarter. Parallel Advisors LLC now owns 390 shares of the construction company’s stock valued at $50,000 after purchasing an additional 77 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Trex by 11.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,229 shares of the construction company’s stock valued at $680,000 after purchasing an additional 554 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Trex by 33.1% during the 2nd quarter. New York State Teachers Retirement System now owns 57,565 shares of the construction company’s stock valued at $7,487,000 after purchasing an additional 14,300 shares in the last quarter. Finally, CWM LLC grew its holdings in Trex by 36.3% during the 2nd quarter. CWM LLC now owns 638 shares of the construction company’s stock valued at $83,000 after purchasing an additional 170 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on TREX shares. Exane BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating and set a $71.00 price target for the company in a report on Thursday, November 5th. DA Davidson raised their price objective on shares of Trex from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, November 3rd. Stifel Nicolaus assumed coverage on shares of Trex in a report on Tuesday, October 13th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Trex from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, November 3rd. Finally, Zacks Investment Research raised shares of Trex from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a report on Saturday, October 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Trex currently has a consensus rating of “Hold” and an average price target of $67.39.

In related news, SVP William R. Gupp sold 7,040 shares of Trex stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $72.16, for a total value of $508,006.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

NYSE TREX opened at $74.72 on Friday. Trex Company, Inc. has a one year low of $28.11 and a one year high of $81.23. The company has a 50-day simple moving average of $74.67 and a 200-day simple moving average of $68.66. The firm has a market capitalization of $8.65 billion, a PE ratio of 52.07 and a beta of 1.58.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, November 2nd. The construction company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The firm had revenue of $232.00 million for the quarter, compared to the consensus estimate of $221.94 million. Trex had a net margin of 21.41% and a return on equity of 36.64%. Trex’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. Equities research analysts expect that Trex Company, Inc. will post 1.45 earnings per share for the current year.

About Trex

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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