Trex Company, Inc. (NYSE:TREX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,251 shares of the construction company's stock after selling 15,240 shares during the quarter. Principal Financial Group Inc. owned 0.61% of Trex worth $44,492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new position in Trex in the 2nd quarter valued at $31,000. UMB Bank n.a. raised its position in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock worth $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Trex during the 2nd quarter worth approximately $44,000. Quarry LP grew its stake in Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after buying an additional 513 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Trex by 142.3% in 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 during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Up 2.3 %

Shares of NYSE TREX traded up $1.67 on Monday, reaching $74.43. 1,305,705 shares of the company's stock traded hands, compared to its average volume of 1,020,587. The business's 50 day simple moving average is $66.61 and its two-hundred day simple moving average is $74.50. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to analysts' expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company's revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. Analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Loop Capital downgraded Trex from a "buy" rating to a "hold" rating and reduced their price target for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Stephens downgraded Trex from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Finally, DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trex presently has a consensus rating of "Hold" and a consensus target price of $79.94.

Trex Company 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.