abrdn plc Has $5.57 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

abrdn plc cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,641 shares of the construction company’s stock after selling 12,420 shares during the period. abrdn plc owned 0.08% of Trex worth $5,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after buying an additional 60,405 shares during the period. American Century Companies Inc. increased its stake in shares of Trex by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after acquiring an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Trex by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after acquiring an additional 92,563 shares during the period. Finally, Blair William & Co. IL boosted its stake in Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after acquiring an additional 6,901 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on TREX shares. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays dropped 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. Bank of America decreased their target price on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial dropped 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. Finally, Jefferies Financial Group decreased their price objective on 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 given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Down 0.1 %

Shares of TREX opened at $70.76 on Monday. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The firm has a fifty day simple moving average of $65.66 and a 200 day simple moving average of $75.28. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 3.22 and a beta of 1.49.

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