National Asset Management Inc. decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 21.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,018 shares of the construction company’s stock after selling 829 shares during the period. National Asset Management Inc.’s holdings in Trex were worth $309,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in Trex during the second quarter worth about $48,000. Reilly Financial Advisors LLC lifted its stake in Trex by 2,258.1% during the second quarter. Reilly Financial Advisors LLC now owns 731 shares of the construction company’s stock worth $75,000 after purchasing an additional 700 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in Trex during the first quarter worth about $67,000. Van ECK Associates Corp bought a new stake in Trex during the first quarter worth about $72,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in Trex by 519.5% during the second quarter. O Shaughnessy Asset Management LLC now owns 793 shares of the construction company’s stock worth $81,000 after purchasing an additional 665 shares during the last quarter. 92.93% of the stock is owned by institutional investors.
Several brokerages have issued reports on TREX. DA Davidson dropped their price target on Trex from $108.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, August 3rd. They noted that the move was a valuation call. B. Riley lifted their price objective on Trex from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Tuesday, August 3rd. Finally, Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Thursday, August 5th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Trex has a consensus rating of “Hold” and a consensus target price of $103.27.
TREX stock opened at $107.30 on Friday. Trex Company, Inc. has a fifty-two week low of $64.26 and a fifty-two week high of $114.61. The business’s 50 day moving average price is $105.49 and its two-hundred day moving average price is $101.32. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 63.49 and a beta of 1.51.
Trex (NYSE:TREX) last posted its earnings results on Sunday, August 1st. The construction company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. Trex had a return on equity of 33.86% and a net margin of 19.27%. The firm had revenue of $311.60 million for the quarter, compared to the consensus estimate of $302.57 million. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. Research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.
Trex Company Profile
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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