Intech Investment Management LLC Sells 19,557 Shares of Trex Company, Inc. (NYSE:TREX)

Intech Investment Management LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 73.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,210 shares of the construction company's stock after selling 19,557 shares during the quarter. Intech Investment Management LLC's holdings in Trex were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Trex in the second quarter valued at $44,000. Quarry LP lifted its stake in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after buying an additional 513 shares in the last quarter. Mather Group LLC. lifted its position in shares of Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after purchasing an additional 370 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock worth $43,000 after acquiring an additional 392 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TREX. BMO Capital Markets boosted their price objective on shares of Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Truist Financial lowered their price target on shares of Trex from $120.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. B. Riley lowered their price target on shares of Trex from $107.00 to $97.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Robert W. Baird boosted their price objective on shares of Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Loop Capital downgraded shares of Trex from a "buy" rating to a "hold" rating and reduced their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $79.94.

Trex Stock Performance

Shares of TREX stock traded up $0.51 during mid-day trading on Monday, hitting $75.54. 969,343 shares of the stock traded hands, compared to its average volume of 1,018,120. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 3.41 and a beta of 1.49. The company's 50-day simple moving average is $68.61 and its 200-day simple moving average is $72.67. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period last year, the company earned $0.57 earnings per share. The business's revenue was down 23.1% compared to the same quarter last year. Analysts forecast that Trex Company, Inc. will post 2.05 earnings per share 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.