Empower Advisory Group LLC Sells 598 Shares of Trex Company, Inc. (NYSE:TREX)

Empower Advisory Group LLC trimmed its holdings in Trex Company, Inc. (NYSE:TREX) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,422 shares of the construction company’s stock after selling 598 shares during the quarter. Empower Advisory Group LLC’s holdings in Trex were worth $7,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TREX. Renaissance Technologies LLC bought a new stake in shares of Trex in the second quarter valued at approximately $19,475,000. Impax Asset Management Group plc lifted its position in Trex by 44.2% in the third quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after purchasing an additional 252,262 shares during the period. Federated Hermes Inc. lifted its position in Trex by 39.1% in the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after purchasing an additional 217,767 shares during the period. Achmea Investment Management B.V. bought a new position in Trex in the second quarter worth $15,635,000. Finally, Cubist Systematic Strategies LLC lifted its position in Trex by 514.3% in the second quarter. Cubist Systematic Strategies LLC now owns 211,579 shares of the construction company’s stock worth $15,682,000 after purchasing an additional 177,136 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Up 0.4 %

Shares of TREX stock opened at $72.64 on Thursday. The stock has a 50-day moving average price of $67.06 and a 200 day moving average price of $74.36. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 3.29 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company’s revenue was down 23.1% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Sell-side analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TREX shares. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. B. Riley reduced their target price on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets increased their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson increased their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Benchmark dropped their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.94.

About Trex

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.