Benjamin F. Edwards & Company Inc. Sells 195 Shares of Trex Company, Inc. (NYSE:TREX)

Benjamin F. Edwards & Company Inc. lowered its position in Trex Company, Inc. (NYSE:TREX) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,120 shares of the construction company’s stock after selling 195 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Trex were worth $824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TD Asset Management Inc increased its stake in Trex by 516.8% in the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after acquiring an additional 1,341,419 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Trex by 250.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after purchasing an additional 670,665 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Trex by 19.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after purchasing an additional 660,536 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Trex during the second quarter valued at approximately $19,475,000. Finally, Motley Fool Asset Management LLC grew its stake in Trex by 287.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock worth $32,400,000 after buying an additional 240,989 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TREX. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. BMO Capital Markets dropped their price target on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus dropped their target price on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced their price target on shares of Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $80.88.

Trex Stock Performance

NYSE TREX opened at $69.66 on Tuesday. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a market cap of $7.57 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50. The stock has a 50 day simple moving average of $69.42 and a two-hundred day simple moving average of $81.19.

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

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.