Mutual of America Capital Management LLC Trims Position in Trex Company, Inc. (NYSE:TREX)

Mutual of America Capital Management LLC cut its stake in shares of Trex Company, Inc. (NYSE:TREX) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,966 shares of the construction company’s stock after selling 7,472 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Trex worth $4,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new position in Trex in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex in the second quarter worth $44,000. Quarry LP raised its stake in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

Shares of Trex stock opened at $68.88 on Thursday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The stock’s 50-day moving average is $67.69 and its 200-day moving average is $73.61. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.49.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, equities analysts expect that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TREX shares. DA Davidson lifted their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Truist Financial cut their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.94.

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.