Kornitzer Capital Management Inc. KS Sells 16,555 Shares of Trex Company, Inc. (NYSE:TREX)

Kornitzer Capital Management Inc. KS reduced its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,654 shares of the construction company's stock after selling 16,555 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.11% of Trex worth $7,767,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TREX. Vanguard Group Inc. grew its stake in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company's stock valued at $1,028,829,000 after acquiring an additional 65,428 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company's stock valued at $146,288,000 after acquiring an additional 60,405 shares during the period. American Century Companies Inc. grew its stake in shares of Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company's stock valued at $136,631,000 after acquiring an additional 122,658 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Trex by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company's stock valued at $90,752,000 after acquiring an additional 92,563 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company's stock valued at $84,803,000 after acquiring an additional 6,901 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their price target on Trex from $110.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets upped their price target on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Truist Financial dropped their price target on Trex from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Bank of America dropped their price target on Trex from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Two research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $79.94.

Trex Trading Up 1.2 %

NYSE:TREX traded up $0.89 during midday trading on Friday, hitting $72.76. 756,342 shares of the company traded hands, compared to its average volume of 1,019,273. The firm's fifty day moving average is $66.22 and its 200-day moving average is $74.92. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The firm has a market capitalization of $7.80 billion, a P/E ratio of 32.82, a P/E/G ratio of 3.29 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last released its quarterly 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 quarter in the prior year, the firm posted $0.57 EPS. Trex's quarterly revenue was down 23.1% compared to the same quarter last year. On average, research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal 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. 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.