Victory Capital Management Inc. Lowers Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,033 shares of the construction company’s stock after selling 7,287 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Trex worth $5,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TREX. Acadian Asset Management LLC purchased a new position in Trex in the 1st quarter valued at about $536,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Trex in the first quarter valued at approximately $324,000. Bessemer Group Inc. boosted its stake in shares of Trex by 14.2% in the first quarter. Bessemer Group Inc. now owns 5,113 shares of the construction company’s stock worth $510,000 after acquiring an additional 636 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Trex by 28.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock worth $7,746,000 after purchasing an additional 17,376 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Trex by 32.0% during the first quarter. CreativeOne Wealth LLC now owns 4,502 shares of the construction company’s stock worth $449,000 after purchasing an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 2.7 %

Shares of Trex stock opened at $72.24 on Friday. The firm has a market cap of $7.74 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 3.07 and a beta of 1.49. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The business’s fifty day simple moving average is $67.81 and its 200-day simple moving average is $73.59.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TREX. UBS Group lowered their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Benchmark decreased their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. DA Davidson upped their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.94.

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.