Victory Capital Management Inc. Sells 38,383 Shares of Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 28.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,320 shares of the construction company’s stock after selling 38,383 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Trex worth $7,139,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of Trex in the 1st quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in Trex during the fourth quarter worth about $25,000. Sunbelt Securities Inc. grew its holdings in Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after purchasing an additional 314 shares during the period. Rise Advisors LLC increased its stake in shares of Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of Trex during the second quarter valued at approximately $31,000. 95.96% of the stock is owned by institutional investors.

Trex Trading Up 3.1 %

Shares of NYSE:TREX opened at $66.10 on Monday. The stock has a 50 day moving average of $70.38 and a 200 day moving average of $82.35. The company has a market cap of $7.18 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.18 and a beta of 1.50. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same period in the prior year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts predict that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TREX shares. DA Davidson cut their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Robert W. Baird lowered their price target on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial cut their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.88.

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.