Fifth Third Wealth Advisors LLC Sells 296 Shares of Trex Company, Inc. (NYSE:TREX)

Fifth Third Wealth Advisors LLC cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 7.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,495 shares of the construction company’s stock after selling 296 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Trex were worth $241,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex during the third quarter worth about $30,000. Eagle Bay Advisors LLC bought a new position in Trex in the 4th quarter worth approximately $41,000. UMB Bank n.a. grew its holdings in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares in the last quarter. Quarry LP raised its position in shares of 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Trex by 274.9% in the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after buying an additional 514 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 0.6 %

Shares of TREX opened at $71.72 on Friday. The company’s fifty day simple moving average is $72.06 and its 200-day simple moving average is $70.13. The company has a market cap of $7.68 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.73 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 company posted $0.57 EPS. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. Analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays cut 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. Finally, DA Davidson upped their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $79.81.

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.