Wilmington Savings Fund Society FSB Takes Position in Trex Company, Inc. (NYSE:TREX)

Wilmington Savings Fund Society FSB acquired a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 448 shares of the construction company’s stock, valued at approximately $30,000.

A number of other hedge funds have also bought and sold shares of TREX. Bank of New York Mellon Corp raised its position in shares of Trex by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 918,681 shares of the construction company’s stock worth $68,093,000 after acquiring an additional 21,111 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Trex by 3.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 128,260 shares of the construction company’s stock worth $9,507,000 after purchasing an additional 3,871 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Trex by 19.3% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,027 shares of the construction company’s stock valued at $1,559,000 after buying an additional 3,398 shares during the period. Hantz Financial Services Inc. bought a new position in shares of Trex during the 2nd quarter worth approximately $31,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Trex during the 2nd quarter worth approximately $2,965,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Trex stock opened at $70.97 on Tuesday. The stock has a market cap of $7.60 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The firm’s 50-day simple moving average is $71.54 and its 200 day simple moving average is $71.49.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.