abrdn plc Sells 12,420 Shares of Trex Company, Inc. (NYSE:TREX)

abrdn plc cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 12.9% during the third quarter, Holdings Channel reports. The fund owned 83,641 shares of the construction company’s stock after selling 12,420 shares during the quarter. abrdn plc’s holdings in Trex were worth $5,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TREX. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter valued at about $31,000. UMB Bank n.a. grew its position in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Trex during the 2nd quarter worth approximately $44,000. Quarry LP boosted its stake in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the period. Finally, Mather Group LLC. grew its holdings in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after buying an additional 370 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Trading Down 0.1 %

TREX stock opened at $70.76 on Monday. The firm has a 50-day moving average price of $65.66 and a 200-day moving average price of $75.28. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The stock has a market capitalization of $7.58 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49.

Trex (NYSE:TREX) last issued its quarterly earnings data 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 business 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. The firm’s revenue was down 23.1% compared to the same quarter last year. As a group, equities analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

TREX has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group decreased their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Finally, Loop Capital cut Trex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trex has a consensus rating of “Hold” and an average price target of $79.94.

Trex 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.