Monte Financial Group LLC Has $1.04 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Monte Financial Group LLC increased its holdings in Trex Company, Inc. (NYSE:TREX) by 30.6% in the third quarter, Holdings Channel reports. The institutional investor owned 15,597 shares of the construction company’s stock after buying an additional 3,653 shares during the period. Monte Financial Group LLC’s holdings in Trex were worth $1,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its stake in Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after buying an additional 123 shares in the last quarter. Harrington Investments INC boosted its position in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after acquiring an additional 140 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Trex by 4.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after acquiring an additional 173 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after purchasing an additional 176 shares in the last quarter. Finally, Values First Advisors Inc. raised its position in Trex by 3.6% during the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after purchasing an additional 230 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Down 0.1 %

NYSE TREX opened at $62.86 on Thursday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.39 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $54.09 and a twelve month high of $101.91. The stock has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $76.48.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on TREX. BMO Capital Markets reduced their target price on Trex from $82.00 to $67.00 and set a “market perform” rating on the stock in a report on Tuesday. Truist Financial reduced their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group reduced their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Robert W. Baird lowered their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.38.

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.