London Co. of Virginia Cuts Position in Trex Company, Inc. $TREX

London Co. of Virginia lessened its position in shares of Trex Company, Inc. (NYSE:TREX) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,509 shares of the construction company’s stock after selling 163,882 shares during the quarter. London Co. of Virginia’s holdings in Trex were worth $8,858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Trex by 16.5% in the 4th quarter. Captrust Financial Advisors now owns 24,698 shares of the construction company’s stock worth $866,000 after purchasing an additional 3,491 shares during the period. ExodusPoint Capital Management LP boosted its holdings in shares of Trex by 257.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 65,032 shares of the construction company’s stock worth $2,281,000 after purchasing an additional 46,828 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Trex in the 4th quarter worth approximately $1,092,000. Cynosure Group LLC purchased a new position in shares of Trex in the 4th quarter worth approximately $492,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Trex in the 4th quarter worth approximately $989,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.2%

Shares of NYSE TREX opened at $46.93 on Wednesday. The business has a fifty day simple moving average of $40.63 and a two-hundred day simple moving average of $39.38. The firm has a market cap of $4.88 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 9.40 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $68.78.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.Trex’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, research analysts expect that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TREX shares. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Stifel Nicolaus lifted their target price on Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Bank of America dropped their target price on Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Barclays reiterated an “underweight” rating and issued a $36.00 target price (up from $35.00) on shares of Trex in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average target price of $46.42.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.