Trex Company, Inc. (NYSE:TREX) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lowered its stake in Trex Company, Inc. (NYSE:TREX) by 53.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,433 shares of the construction company’s stock after selling 56,018 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Trex were worth $3,664,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after buying an additional 122,658 shares in the last quarter. Headlands Technologies LLC purchased a new position in Trex during the 2nd quarter valued at about $175,000. Texas Permanent School Fund Corp grew its position in Trex by 2.4% in the 2nd quarter. Texas Permanent School Fund Corp now owns 97,369 shares of the construction company’s stock valued at $7,217,000 after acquiring an additional 2,328 shares in the last quarter. Prudential PLC purchased a new stake in Trex during the second quarter worth about $607,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Trex during the second quarter worth about $44,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TREX. JPMorgan Chase & Co. decreased their price target 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. Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial reduced their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. B. Riley lowered their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced their target price on shares of Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.88.

Trex Price Performance

NYSE TREX opened at $66.09 on Friday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.50. The firm’s fifty day moving average price is $70.47 and its 200 day moving average price is $82.63.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.03 earnings per share for the current year.

About Trex

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.