Trex Company, Inc. (NYSE:TREX) Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 owned about 1.89% of Trex worth $134,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TREX. Wasatch Advisors LP increased its position in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Trex by 462.4% during the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Trex in the second quarter valued at about $19,475,000. Impax Asset Management Group plc lifted its stake in shares of Trex by 44.2% in the third quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after buying an additional 252,262 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Trex by 39.1% during the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after acquiring an additional 217,767 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on TREX. B. Riley cut their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and cut their target price for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.94.

Trex Stock Performance

Trex stock opened at $75.03 on Monday. The company has a market capitalization of $8.04 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.49. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The firm has a 50 day moving average price of $68.61 and a 200 day moving average price of $72.67.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current 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.