Nisa Investment Advisors LLC Has $964,000 Position in Trex Company, Inc. (NYSE:TREX)

Nisa Investment Advisors LLC lessened its position in Trex Company, Inc. (NYSE:TREX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,963 shares of the construction company’s stock after selling 280 shares during the period. Nisa Investment Advisors LLC’s holdings in Trex were worth $964,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of TREX. Bank of Montreal Can raised its stake in Trex by 147.5% during the 2nd quarter. Bank of Montreal Can now owns 36,671 shares of the construction company’s stock worth $2,718,000 after buying an additional 21,852 shares during the period. Millennium Management LLC increased its holdings in shares of Trex by 354.7% in the second quarter. Millennium Management LLC now owns 206,206 shares of the construction company’s stock worth $15,284,000 after acquiring an additional 160,853 shares in the last quarter. Creative Planning raised its position in shares of Trex by 0.7% during the second quarter. Creative Planning now owns 60,284 shares of the construction company’s stock worth $4,468,000 after purchasing an additional 412 shares during the period. Quarry LP raised its position in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Trex by 15.0% during the 2nd quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock valued at $293,000 after purchasing an additional 515 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on TREX. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. BMO Capital Markets raised 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. Citigroup cut their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. DA Davidson increased their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.81.

Trex Stock Up 0.8 %

NYSE TREX opened at $74.32 on Tuesday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The firm has a 50-day moving average price of $72.33 and a two-hundred day moving average price of $70.11. The company has a market capitalization of $7.96 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.06 and a beta of 1.50.

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