Thrivent Financial for Lutherans Sells 723 Shares of Trex Company, Inc. (NYSE:TREX)

Thrivent Financial for Lutherans reduced its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,539 shares of the construction company’s stock after selling 723 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trex were worth $1,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in shares of Trex during the second quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in Trex during the second quarter worth $44,000. Quarry LP raised its holdings in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after buying an additional 370 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 0.8 %

TREX opened at $75.03 on Friday. The firm has a 50-day moving average price of $68.49 and a 200-day moving average price of $73.00. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.39 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TREX. Truist Financial dropped their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets lifted their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group cut their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, UBS Group reduced their price objective 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.