Hartline Investment Corp Reduces Stake in Trex Company, Inc. (NYSE:TREX)

Hartline Investment Corp reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,890 shares of the construction company’s stock after selling 163 shares during the period. Hartline Investment Corp’s holdings in Trex were worth $925,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in Trex in the second quarter worth $31,000. UMB Bank n.a. grew its stake in shares of Trex by 150.8% during the 3rd 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 purchased a new stake in Trex in the 2nd quarter worth about $44,000. Quarry LP raised 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 acquiring an additional 513 shares during the period. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX opened at $72.32 on Wednesday. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The company has a market capitalization of $7.75 billion, a P/E ratio of 33.02, a P/E/G ratio of 3.39 and a beta of 1.49. The firm’s 50 day simple moving average is $66.83 and its 200 day simple moving average is $74.37.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share 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 for the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was down 23.1% on a year-over-year basis. On average, equities analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TREX shares. Jefferies Financial Group lowered their price target 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. Bank of America lowered their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. UBS Group reduced their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Stephens cut Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.