Trex Company, Inc. (NYSE:TREX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Trex Company, Inc. (NYSE:TREX) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,033 shares of the construction company’s stock after selling 7,287 shares during the period. Victory Capital Management Inc.’s holdings in Trex were worth $5,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Trex during the 3rd quarter worth approximately $626,000. Entropy Technologies LP grew its stake in shares of Trex by 287.1% in the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock worth $1,119,000 after acquiring an additional 12,468 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Trex by 1.0% during the third quarter. WCM Investment Management LLC now owns 209,754 shares of the construction company’s stock worth $14,240,000 after acquiring an additional 2,129 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Trex by 7.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 40,742 shares of the construction company’s stock valued at $2,713,000 after acquiring an additional 2,759 shares in the last quarter. Finally, Montanaro Asset Management Ltd boosted its holdings in Trex by 5.7% in the third quarter. Montanaro Asset Management Ltd now owns 322,300 shares of the construction company’s stock valued at $21,459,000 after purchasing an additional 17,300 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Up 2.7 %

TREX opened at $72.24 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 3.07 and a beta of 1.49. The business’s 50 day moving average is $67.81 and its two-hundred day moving average is $73.59. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating 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 firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the firm earned $0.57 EPS. Trex’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and cut their price target for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Truist Financial dropped their price objective 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. UBS Group reduced their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, B. Riley dropped their target price on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.