Thrivent Financial for Lutherans Has $1.95 Million Stake in Trex Company, Inc. (NYSE:TREX)

Thrivent Financial for Lutherans decreased its position in Trex Company, Inc. (NYSE:TREX) by 40.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,262 shares of the construction company’s stock after selling 17,638 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trex were worth $1,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TREX. Franklin Resources Inc. acquired a new stake in shares of Trex in the 4th quarter valued at about $1,563,000. US Bancorp DE raised its stake in shares of Trex by 16.0% in the 4th quarter. US Bancorp DE now owns 13,433 shares of the construction company’s stock valued at $1,112,000 after purchasing an additional 1,851 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Trex by 4.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 49,700 shares of the construction company’s stock valued at $4,115,000 after purchasing an additional 2,002 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after purchasing an additional 119 shares during the period. Finally, KBC Group NV increased its position in shares of Trex by 5.5% in the fourth quarter. KBC Group NV now owns 20,099 shares of the construction company’s stock valued at $1,664,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Up 1.8 %

Shares of NYSE:TREX opened at $67.75 on Wednesday. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The stock has a market cap of $7.37 billion, a PE ratio of 29.08, a P/E/G ratio of 2.31 and a beta of 1.50. The business has a 50 day moving average of $67.88 and a 200-day moving average of $80.22.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Trex Company, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

TREX has been the topic of a number of recent research reports. StockNews.com raised Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. The Goldman Sachs Group lowered their target price on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. B. Riley lowered their target price on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Bank of America lowered their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets lowered their target price on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.88.

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.