Glenmede Trust Co. NA Sells 1,078 Shares of Trex Company, Inc. (NYSE:TREX)

Glenmede Trust Co. NA lowered its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 11.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,297 shares of the construction company’s stock after selling 1,078 shares during the period. Glenmede Trust Co. NA’s holdings in Trex were worth $552,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. bought a new position in Trex during the second quarter worth about $31,000. UMB Bank n.a. boosted its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex during the second quarter worth approximately $44,000. Quarry LP boosted its holdings in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after acquiring an additional 370 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the subject of a number of research analyst reports. Loop Capital cut Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Benchmark dropped their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

Shares of TREX opened at $77.12 on Wednesday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The company has a market cap of $8.26 billion, a P/E ratio of 35.21, a P/E/G ratio of 3.44 and a beta of 1.49. The firm has a 50 day simple moving average of $68.87 and a two-hundred day simple moving average of $72.51.

Trex (NYSE:TREX) last announced 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 period in the previous year, the business earned $0.57 earnings per share. The company’s revenue was down 23.1% on a year-over-year basis. On average, analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Trex Company 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.