Trex Company, Inc. (NYSE:TREX) Holdings Lowered by Shelton Capital Management

Shelton Capital Management decreased its stake in Trex Company, Inc. (NYSE:TREX) by 4.2% in the second quarter, HoldingsChannel reports. The firm owned 5,410 shares of the construction company’s stock after selling 236 shares during the period. Shelton Capital Management’s holdings in Trex were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. MAI Capital Management boosted its position in shares of Trex by 5.6% in the second quarter. MAI Capital Management now owns 4,352 shares of the construction company’s stock worth $285,000 after buying an additional 230 shares during the period. Impact Partnership Wealth LLC acquired a new stake in Trex during the 2nd quarter worth about $58,000. Sei Investments Co. grew its stake in Trex by 67.8% during the 1st quarter. Sei Investments Co. now owns 606,480 shares of the construction company’s stock valued at $29,517,000 after acquiring an additional 245,065 shares in the last quarter. Level Four Advisory Services LLC acquired a new position in shares of Trex in the 2nd quarter valued at about $686,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of Trex by 11.8% in the first quarter. New Mexico Educational Retirement Board now owns 19,900 shares of the construction company’s stock worth $969,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.

Analyst Ratings Changes

TREX has been the topic of a number of research analyst reports. TheStreet raised shares of Trex from a “c+” rating to a “b-” rating in a research report on Monday, July 31st. Credit Suisse Group upped their price target on shares of Trex from $47.00 to $58.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on Trex in a research report on Thursday, October 5th. They set a “hold” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $85.00 target price on shares of Trex in a research report on Tuesday, October 31st. Finally, Truist Financial cut their price target on Trex from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average price target of $74.76.

Trex Stock Up 0.4 %

TREX opened at $67.81 on Tuesday. The stock’s 50 day moving average price is $60.83 and its two-hundred day moving average price is $63.06. The firm has a market capitalization of $7.36 billion, a P/E ratio of 38.10, a price-to-earnings-growth ratio of 2.59 and a beta of 1.49. Trex Company, Inc. has a 12-month low of $40.69 and a 12-month high of $76.05.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Trex had a return on equity of 34.43% and a net margin of 17.73%. The company had revenue of $303.84 million during the quarter, compared to analysts’ expectations of $290.12 million. During the same period in the prior year, the business earned $0.14 earnings per share. Trex’s revenue for the quarter was up 61.2% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 1.85 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. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.