Chartwell Investment Partners LLC Has $2.24 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Chartwell Investment Partners LLC reduced its position in Trex Company, Inc. (NYSE:TREX) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,614 shares of the construction company’s stock after selling 762 shares during the period. Chartwell Investment Partners LLC’s holdings in Trex were worth $2,238,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Covestor Ltd increased its position in shares of Trex by 11.3% in the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after acquiring an additional 123 shares in the last quarter. Harrington Investments INC lifted its stake in shares of Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after buying an additional 140 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Trex by 4.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after buying an additional 173 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Trex by 2.6% in the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Finally, Values First Advisors Inc. lifted its stake in shares of Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after buying an additional 230 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

TREX opened at $72.32 on Wednesday. The firm’s 50-day simple moving average is $66.83 and its 200-day simple moving average is $74.37. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 3.31 and a beta of 1.49.

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. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson upped their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Jefferies Financial Group cut their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Robert W. Baird upped their target price 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. Finally, Benchmark cut their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and an average price target 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.