Bamco Inc. NY Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Bamco Inc. NY trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 10.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,026,692 shares of the construction company's stock after selling 244,696 shares during the quarter. Bamco Inc. NY owned about 1.89% of Trex worth $134,937,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TREX. Wasatch Advisors LP boosted its stake in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock valued at $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company's stock worth $146,288,000 after purchasing an additional 60,405 shares during the period. American Century Companies Inc. increased its position in Trex by 7.1% in 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 buying an additional 122,658 shares in the last quarter. Geneva Capital Management LLC grew its position in Trex by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company's stock valued at $106,031,000 after purchasing an additional 6,616 shares during the period. Finally, FMR LLC lifted its position in Trex by 6.0% in the 3rd quarter. FMR LLC now owns 1,262,920 shares of the construction company's stock valued at $84,085,000 after acquiring an additional 71,761 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Up 1.0 %

Shares of NYSE TREX traded up $0.72 during midday trading on Monday, hitting $75.75. The stock had a trading volume of 611,239 shares, compared to its average volume of 1,016,492. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company has a market capitalization of $8.12 billion, a PE ratio of 34.96, a P/E/G ratio of 3.41 and a beta of 1.49. The stock has a 50 day simple moving average of $68.61 and a 200-day simple moving average of $72.67.

Trex (NYSE:TREX - Get Free Report) last announced 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. The company had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. As a group, analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TREX has been the subject of a number of research reports. DA Davidson increased their target price on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Benchmark dropped their target price on Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Robert W. Baird lifted their price objective on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Finally, StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.