Trex Company, Inc. (NYSE:TREX) Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 441,506 shares of the construction company’s stock after selling 69,948 shares during the quarter. Cerity Partners LLC owned about 0.41% of Trex worth $29,395,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in Trex during the first quarter worth about $536,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Trex during the 1st quarter worth approximately $324,000. Bessemer Group Inc. raised its position in shares of Trex by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 5,113 shares of the construction company’s stock valued at $510,000 after buying an additional 636 shares during the period. PEAK6 Investments LLC lifted its holdings in Trex by 30.9% in the first quarter. PEAK6 Investments LLC now owns 10,501 shares of the construction company’s stock valued at $1,047,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Trex in the first quarter worth approximately $5,150,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Shares of NYSE TREX opened at $72.25 on Monday. The stock has a fifty day moving average price of $67.94 and a 200 day moving average price of $73.18. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The company has a market cap of $7.74 billion, a PE ratio of 32.99, a P/E/G ratio of 3.29 and a beta of 1.49.

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

Analyst Ratings Changes

Several analysts recently issued reports on TREX shares. JPMorgan Chase & Co. reduced their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Benchmark decreased their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays dropped their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, B. Riley decreased their price target on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex 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.