Janney Montgomery Scott LLC decreased its stake in Trex Company Inc (NYSE:TREX) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,514 shares of the construction company’s stock after selling 200 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Trex were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Trex by 106.8% during the 2nd quarter. Marshall Wace LLP now owns 103,971 shares of the construction company’s stock valued at $7,455,000 after purchasing an additional 53,707 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Trex during the 2nd quarter valued at $4,298,000. Stephens Investment Management Group LLC raised its holdings in shares of Trex by 54.0% during the 3rd quarter. Stephens Investment Management Group LLC now owns 569,720 shares of the construction company’s stock valued at $51,805,000 after purchasing an additional 199,849 shares in the last quarter. Retirement Systems of Alabama bought a new position in shares of Trex during the 2nd quarter valued at $11,224,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Trex by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 522,969 shares of the construction company’s stock valued at $37,497,000 after purchasing an additional 6,822 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

NYSE:TREX opened at $87.91 on Friday. Trex Company Inc has a 1 year low of $53.48 and a 1 year high of $93.63. The firm’s fifty day simple moving average is $89.26 and its 200 day simple moving average is $77.52. The company has a current ratio of 3.52, a quick ratio of 3.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $5.12 billion, a PE ratio of 37.66, a PEG ratio of 3.64 and a beta of 1.92.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Trex had a net margin of 18.65% and a return on equity of 35.80%. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $208.12 million. During the same period last year, the business posted $0.57 EPS. Trex’s revenue was up 17.2% compared to the same quarter last year. As a group, analysts anticipate that Trex Company Inc will post 2.41 EPS for the current fiscal year.

In other Trex news, Director Jay M. Gratz sold 2,792 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.46, for a total value of $233,020.32. Following the sale, the director now directly owns 15,651 shares in the company, valued at approximately $1,306,232.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay M. Gratz sold 2,817 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $86.67, for a total transaction of $244,149.39. Following the completion of the sale, the director now owns 16,515 shares in the company, valued at $1,431,355.05. The disclosure for this sale can be found here. Insiders sold a total of 21,388 shares of company stock worth $1,802,560 over the last 90 days. Company insiders own 0.93% of the company’s stock.

TREX has been the topic of a number of recent research reports. BNP Paribas initiated coverage on shares of Trex in a report on Wednesday, October 9th. They set an “underperform” rating on the stock. DA Davidson restated a “positive” rating and set a $102.00 price target on shares of Trex in a report on Tuesday, October 29th. Sidoti downgraded shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 price target on the stock. in a report on Tuesday, August 6th. They noted that the move was a valuation call. ValuEngine downgraded shares of Trex from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $85.56.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

Featured Story: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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