Thrivent Financial for Lutherans Sells 17,638 Shares of Trex Company, Inc. (NYSE:TREX)

Thrivent Financial for Lutherans reduced its stake in Trex Company, Inc. (NYSE:TREX) by 40.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,262 shares of the construction company’s stock after selling 17,638 shares during the period. Thrivent Financial for Lutherans’ holdings in Trex were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $25,000. Mather Group LLC. bought a new stake in shares of Trex in the first quarter valued at approximately $26,000. Hantz Financial Services Inc. bought a new stake in shares of Trex in the second quarter valued at approximately $31,000. Sunbelt Securities Inc. raised its position in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares in the last quarter. Finally, Rise Advisors LLC raised its position in 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. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TREX shares. Bank of America lowered their price objective on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets lowered their price objective on shares of Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. B. Riley lowered their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One research analyst has 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, Trex currently has a consensus rating of “Hold” and a consensus target price of $80.88.

Trex Stock Up 1.8 %

NYSE TREX opened at $67.75 on Wednesday. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.31 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91. The stock has a fifty day simple moving average of $67.88 and a 200 day simple moving average of $80.22.

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