Harrington Investments INC Has $596,000 Holdings in Trex Company, Inc. (NYSE:TREX)

Harrington Investments INC decreased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 8.8% in the 3rd quarter, Holdings Channel reports. The fund owned 8,947 shares of the construction company’s stock after selling 860 shares during the quarter. Harrington Investments INC’s holdings in Trex were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. acquired a new position in Trex in the 1st quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of Trex during the fourth quarter worth about $25,000. Sunbelt Securities Inc. raised its position in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares during the last quarter. Rise Advisors LLC lifted its stake in Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after acquiring an additional 305 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter worth approximately $31,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TREX has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets dropped their price target on shares of Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Barclays decreased their price objective on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Finally, Jefferies Financial Group lowered their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $81.31.

Trex Price Performance

Shares of NYSE:TREX opened at $65.39 on Tuesday. The company has a market capitalization of $7.11 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.15 and a beta of 1.50. The business’s 50 day simple moving average is $64.98 and its 200 day simple moving average is $77.94. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91.

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