Curbstone Financial Management Corp Boosts Position in Trex Company, Inc. (NYSE:TREX)

Curbstone Financial Management Corp lifted its position in Trex Company, Inc. (NYSE:TREX) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,220 shares of the construction company’s stock after purchasing an additional 1,250 shares during the quarter. Curbstone Financial Management Corp’s holdings in Trex were worth $1,945,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vident Advisory LLC acquired a new stake in shares of Trex during the 1st quarter worth about $4,013,000. Comerica Bank boosted its position in shares of Trex by 3.8% during the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the period. Broad Bay Capital Management LP raised its position in Trex by 3.8% in the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after purchasing an additional 15,000 shares during the period. Fisher Asset Management LLC lifted its stake in Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares in the last quarter. Finally, Duality Advisers LP boosted its position in shares of Trex by 54.1% during the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after buying an additional 16,738 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

NYSE:TREX opened at $68.12 on Friday. The stock has a 50-day simple moving average of $67.25 and a 200-day simple moving average of $79.86. The stock has a market cap of $7.40 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.31 and a beta of 1.50. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Truist Financial reduced their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Citigroup reduced their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus decreased their target price on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.88.

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.