abrdn plc Sells 12,420 Shares of Trex Company, Inc. (NYSE:TREX)

abrdn plc lowered its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 12.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 83,641 shares of the construction company's stock after selling 12,420 shares during the quarter. abrdn plc owned about 0.08% of Trex worth $5,569,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TREX. Hunter Associates Investment Management LLC grew its holdings in Trex by 4.1% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 14,998 shares of the construction company's stock valued at $997,000 after purchasing an additional 585 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Trex by 69.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company's stock valued at $351,000 after buying an additional 2,161 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Trex by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company's stock valued at $841,000 after purchasing an additional 855 shares during the last quarter. Ballentine Partners LLC increased its position in Trex by 15.5% in the third quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company's stock worth $209,000 after buying an additional 422 shares during the period. Finally, Values First Advisors Inc. increased its holdings in shares of Trex by 12.3% in the 3rd quarter. Values First Advisors Inc. now owns 7,522 shares of the construction company's stock worth $501,000 after acquiring an additional 822 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TREX shares. Robert W. Baird lifted their target price on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Jefferies Financial Group lowered their target price on Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Stephens downgraded shares of Trex from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Finally, Barclays cut their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Trex has an average rating of "Hold" and a consensus price target of $79.94.

Trex Stock Performance

Shares of TREX traded down $0.22 during mid-day trading on Monday, reaching $70.54. 1,311,508 shares of the company were exchanged, compared to its average volume of 1,015,678. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The business has a 50 day simple moving average of $65.66 and a two-hundred day simple moving average of $75.19. The stock has a market capitalization of $7.56 billion, a PE ratio of 32.31, a PEG ratio of 3.22 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $233.72 million for 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%. Trex's quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. On average, analysts predict 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.