Trex Company, Inc. (NYSE:TREX) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. decreased its holdings in Trex Company, Inc. (NYSE:TREX) by 33.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512 shares of the construction company’s stock after selling 256 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Trex were worth $34,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Vident Advisory LLC acquired a new stake in Trex in the first quarter worth about $4,013,000. Comerica Bank grew its position in Trex by 3.8% during the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the last quarter. Duality Advisers LP increased its stake in Trex by 54.1% during the 1st quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after purchasing an additional 16,738 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock worth $7,746,000 after buying an additional 17,376 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Trex during the second quarter worth $726,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark cut their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. BMO Capital Markets decreased their price objective on shares of Trex from $82.00 to $67.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Truist Financial cut their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average target price of $80.38.

Trex Price Performance

Shares of NYSE:TREX opened at $64.16 on Friday. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.39 and a beta of 1.50. The business’s 50 day moving average price is $65.16 and its 200-day moving average price is $76.39. Trex Company, Inc. has a 1 year low of $54.09 and a 1 year high of $101.91.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same quarter last year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

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.