Amalgamated Bank Has $4.17 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Amalgamated Bank decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,310 shares of the construction company’s stock after selling 4,105 shares during the quarter. Amalgamated Bank owned about 0.05% of Trex worth $4,174,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Trex during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. grew its position in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after buying an additional 314 shares during the period. Rise Advisors LLC grew its position in shares of Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after buying an additional 305 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Trex during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Down 2.9 %

Shares of TREX stock opened at $69.15 on Friday. The company’s fifty day simple moving average is $69.65 and its 200-day simple moving average is $81.47. The firm has a market cap of $7.52 billion, a PE ratio of 29.68, a P/E/G ratio of 2.25 and a beta of 1.50. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91.

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

Analyst Ratings Changes

Several brokerages have recently commented on TREX. Benchmark lowered their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Bank of America reduced their price objective on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird reduced their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley reduced their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.