Intech Investment Management LLC Sells 19,557 Shares of Trex Company, Inc. (NYSE:TREX)

Intech Investment Management LLC reduced its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 73.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,210 shares of the construction company’s stock after selling 19,557 shares during the period. Intech Investment Management LLC’s holdings in Trex were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tidal Investments LLC raised its position in shares of Trex by 10.6% during the 1st quarter. Tidal Investments LLC now owns 3,179 shares of the construction company’s stock valued at $317,000 after purchasing an additional 305 shares during the period. Cetera Advisors LLC grew its holdings in Trex by 22.0% during the 1st quarter. Cetera Advisors LLC now owns 4,452 shares of the construction company’s stock valued at $444,000 after buying an additional 803 shares in the last quarter. Versant Capital Management Inc raised its stake in Trex by 29,700.0% during the second quarter. Versant Capital Management Inc now owns 894 shares of the construction company’s stock valued at $66,000 after purchasing an additional 891 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Trex by 7.8% in the 2nd quarter. CWM LLC now owns 3,356 shares of the construction company’s stock valued at $249,000 after purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 0.8 %

Shares of TREX opened at $75.03 on Monday. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The stock has a market cap 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. The firm’s fifty day moving average is $68.61 and its two-hundred day moving average is $72.67.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on TREX. Barclays cut their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. UBS Group dropped their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price 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. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.94.

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.