Nisa Investment Advisors LLC Decreases Stock Position in Trex Company, Inc. (NYSE:TREX)

Nisa Investment Advisors LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 38.1% in the 3rd quarter, Holdings Channel reports. The firm owned 14,243 shares of the construction company’s stock after selling 8,772 shares during the period. Nisa Investment Advisors LLC’s holdings in Trex were worth $948,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Trex during the second quarter worth about $31,000. Fidelis Capital Partners LLC acquired a new position in shares of Trex during the 1st quarter worth approximately $59,000. Ashton Thomas Private Wealth LLC purchased a new position in Trex during the second quarter worth approximately $44,000. Quarry LP raised its holdings in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. raised its position in 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 owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of Trex stock opened at $70.76 on Monday. The company has a market capitalization of $7.58 billion, a P/E ratio of 32.31, a PEG ratio of 3.22 and a beta of 1.49. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company’s fifty day moving average is $65.66 and its two-hundred day moving average is $75.28.

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

Analyst Upgrades and Downgrades

TREX has been the subject of a number of research reports. Truist Financial dropped their price objective on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group dropped their target price on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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.