Trex Company, Inc. (NYSE:TREX) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC cut its holdings in Trex Company, Inc. (NYSE:TREX) by 50.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,136 shares of the construction company’s stock after selling 9,213 shares during the quarter. Malaga Cove Capital LLC’s holdings in Trex were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TREX. Vanguard Group Inc. boosted its stake in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after acquiring an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares in the last quarter. American Century Companies Inc. grew its holdings in Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Trex by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after buying an additional 92,563 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after buying an additional 6,901 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Performance

TREX opened at $72.38 on Thursday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The firm has a 50 day moving average price of $66.05 and a 200 day moving average price of $74.94. The company has a market cap of $7.75 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter last year, the firm posted $0.57 EPS. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. On average, sell-side analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Truist Financial cut their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays cut their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Finally, Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $115.00 to $72.00 in a research 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 issued a buy rating to the company’s stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $79.94.

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.