Trex Company, Inc. (NYSE:TREX) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 49.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,757 shares of the construction company's stock after selling 46,021 shares during the period. Advantage Alpha Capital Partners LP's holdings in Trex were worth $3,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company's stock valued at $35,231,000 after acquiring an additional 435,055 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Trex in the 2nd quarter valued at about $19,475,000. Impax Asset Management Group plc grew its stake in Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company's stock worth $54,753,000 after buying an additional 252,262 shares during the last quarter. Federated Hermes Inc. increased its position in Trex by 39.1% during the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company's stock worth $57,375,000 after buying an additional 217,767 shares during the period. Finally, Achmea Investment Management B.V. acquired a new position in Trex during the second quarter worth approximately $15,635,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Shares of NYSE TREX traded down $1.97 during trading on Tuesday, hitting $75.13. 864,613 shares of the company were exchanged, compared to its average volume of 1,023,020. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 3.29 and a beta of 1.49. The firm's fifty day moving average price is $68.15 and its 200 day moving average price is $73.07.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TREX shares. Truist Financial lowered their target price on shares of Trex from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their price objective on shares of Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. Benchmark decreased their target price on shares of Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Robert W. Baird raised their price target on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Finally, Loop Capital downgraded Trex from a "buy" rating to a "hold" rating and reduced their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.