Trex Company, Inc. (NYSE:TREX) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 668,251 shares of the construction company’s stock after selling 15,240 shares during the period. Principal Financial Group Inc.’s holdings in Trex were worth $44,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harrington Investments INC boosted its holdings in Trex by 1.4% during the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after buying an additional 140 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after purchasing an additional 184 shares during the last quarter. ABLE Financial Group LLC boosted its position in shares of Trex by 3.6% in the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after purchasing an additional 240 shares during the period. American Trust raised its holdings in Trex by 7.9% during the 3rd quarter. American Trust now owns 3,367 shares of the construction company’s stock worth $224,000 after buying an additional 246 shares during the period. Finally, Stephens Inc. AR raised its holdings in shares of Trex by 7.1% during the third quarter. Stephens Inc. AR now owns 5,693 shares of the construction company’s stock valued at $379,000 after acquiring an additional 375 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Robert W. Baird increased their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Barclays lowered their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Down 1.0 %

NYSE:TREX opened at $70.21 on Monday. The company’s 50 day moving average is $71.43 and its 200-day moving average is $71.56. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 3.50 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 released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share 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 net margin of 20.23% and a return on equity of 28.89%. The business’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

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.