Curbstone Financial Management Corp Sells 830 Shares of Trex Company, Inc. (NYSE:TREX)

Curbstone Financial Management Corp lessened its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,870 shares of the construction company’s stock after selling 830 shares during the quarter. Curbstone Financial Management Corp’s holdings in Trex were worth $1,893,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Trex by 8.4% during the 1st quarter. BlackRock Inc. now owns 13,421,758 shares of the construction company’s stock valued at $653,237,000 after purchasing an additional 1,034,669 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Trex by 2.0% during the first quarter. Clearbridge Investments LLC now owns 4,602,270 shares of the construction company’s stock worth $223,992,000 after acquiring an additional 90,913 shares in the last quarter. State Street Corp raised its holdings in shares of Trex by 4.9% in the 1st quarter. State Street Corp now owns 3,637,869 shares of the construction company’s stock worth $237,662,000 after acquiring an additional 169,291 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of Trex by 2.0% in the 4th quarter. Bamco Inc. NY now owns 3,512,925 shares of the construction company’s stock worth $148,702,000 after acquiring an additional 67,219 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its position in Trex by 7.0% in the 1st quarter. Wasatch Advisors Inc. now owns 3,385,680 shares of the construction company’s stock valued at $221,186,000 after acquiring an additional 220,344 shares in the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

NYSE:TREX traded up $0.53 on Thursday, reaching $66.28. 91,795 shares of the company’s stock were exchanged, compared to its average volume of 1,015,223. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 50.19, a P/E/G ratio of 3.07 and a beta of 1.50. The stock has a fifty day simple moving average of $69.95 and a 200-day simple moving average of $59.66. Trex Company, Inc. has a 52 week low of $38.68 and a 52 week high of $76.05.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 31st. The construction company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.54 by $0.17. Trex had a net margin of 14.62% and a return on equity of 28.15%. The company had revenue of $356.54 million during the quarter, compared to the consensus estimate of $318.89 million. During the same period last year, the firm earned $0.79 EPS. Trex’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Trex Company, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TREX. Stifel Nicolaus raised their price objective on Trex from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Credit Suisse Group upped their price objective on shares of Trex from $47.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 2nd. Robert W. Baird lifted their target price on shares of Trex from $78.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Truist Financial increased their price target on Trex from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, StockNews.com began coverage on Trex in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.94.

Trex Company 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. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.