Bamco Inc. NY Cuts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Bamco Inc. NY cut its stake in Trex Company, Inc. (NYSE:TREX) by 10.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,026,692 shares of the construction company’s stock after selling 244,696 shares during the period. Bamco Inc. NY’s holdings in Trex were worth $134,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TREX. Paloma Partners Management Co purchased a new position in Trex in the third quarter worth approximately $206,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Trex by 12.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,786 shares of the construction company’s stock worth $452,000 after purchasing an additional 776 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. FORA Capital LLC purchased a new position in Trex in the third quarter valued at $1,309,000. Finally, CreativeOne Wealth LLC raised its stake in Trex by 58.6% in the third quarter. CreativeOne Wealth LLC now owns 8,903 shares of the construction company’s stock valued at $593,000 after buying an additional 3,291 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TREX shares. B. Riley dropped their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital lowered shares of Trex from a “buy” rating to a “hold” rating and dropped their price target for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group reduced their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of NYSE TREX opened at $75.03 on Monday. The company has a market cap of $8.04 billion, a PE ratio of 34.26, a P/E/G ratio of 3.41 and a beta of 1.49. The stock has a fifty day moving average price of $68.61 and a 200 day moving average price of $72.67. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

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

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.