Trust Co. of Vermont Lowers Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Trust Co. of Vermont lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,121 shares of the construction company’s stock after selling 189 shares during the quarter. Trust Co. of Vermont’s holdings in Trex were worth $354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Trex by 100.0% during the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after buying an additional 393,850 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Price Performance

Trex stock opened at $71.72 on Monday. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 2.73 and a beta of 1.50. The firm has a 50-day moving average of $72.06 and a two-hundred day moving average of $70.11. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

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

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research reports. Barclays reduced their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup lowered their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, DA Davidson boosted 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.81.

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.