Northwestern Mutual Wealth Management Co. Sells 1,361 Shares of Trex Company, Inc. (NYSE:TREX)

Northwestern Mutual Wealth Management Co. lowered its holdings in Trex Company, Inc. (NYSE:TREX) by 49.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,403 shares of the construction company’s stock after selling 1,361 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Trex were worth $104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vident Advisory LLC bought a new stake in shares of Trex in the first quarter valued at approximately $4,013,000. Comerica Bank grew its holdings 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 in the last quarter. Fisher Asset Management LLC increased its position in shares of Trex by 4.8% in 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 during the period. Duality Advisers LP raised its stake in Trex by 54.1% in the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after purchasing an additional 16,738 shares in the last quarter. Finally, Cim LLC bought a new stake in Trex during the fourth quarter worth about $1,258,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group dropped their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird dropped their target price on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. DA Davidson reduced their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and cut their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average target price of $81.31.

Trex Stock Up 1.5 %

Shares of TREX stock opened at $64.51 on Friday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The firm has a 50 day moving average of $65.18 and a 200-day moving average of $78.47. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm 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%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current 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.