Moody Aldrich Partners LLC Trims Stake in Trex Company Inc (NYSE:TREX)

Moody Aldrich Partners LLC reduced its position in shares of Trex Company Inc (NYSE:TREX) by 95.5% in the second quarter, Holdings Channel reports. The firm owned 2,027 shares of the construction company’s stock after selling 42,911 shares during the period. Moody Aldrich Partners LLC’s holdings in Trex were worth $264,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. State of Michigan Retirement System grew its position in Trex by 29.8% in the second quarter. State of Michigan Retirement System now owns 21,024 shares of the construction company’s stock worth $2,735,000 after acquiring an additional 4,824 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Trex in the second quarter worth $289,000. Pinnacle Financial Partners Inc. purchased a new position in Trex in the second quarter worth $261,000. DAVENPORT & Co LLC grew its position in Trex by 2.8% in the second quarter. DAVENPORT & Co LLC now owns 12,960 shares of the construction company’s stock worth $1,686,000 after acquiring an additional 359 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Trex in the second quarter worth $274,000.

Several analysts have weighed in on the stock. SunTrust Banks boosted their price target on shares of Trex from $99.00 to $126.00 in a research note on Wednesday, July 8th. B. Riley boosted their price target on shares of Trex from $100.00 to $125.00 in a research note on Tuesday, July 7th. DA Davidson boosted their price target on shares of Trex from $85.00 to $110.00 in a research note on Tuesday, July 14th. Barclays initiated coverage on shares of Trex in a research note on Tuesday, July 7th. They set an “equal weight” rating and a $134.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of Trex from $115.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Trex currently has a consensus rating of “Hold” and a consensus target price of $117.50.

NYSE:TREX traded down $0.53 during trading hours on Friday, reaching $139.33. 428,049 shares of the company were exchanged, compared to its average volume of 698,257. The company has a current ratio of 2.75, a quick ratio of 2.25 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $126.70 and its 200-day moving average is $105.18. The firm has a market cap of $8.06 billion, a PE ratio of 52.18 and a beta of 1.71. Trex Company Inc has a twelve month low of $56.22 and a twelve month high of $140.10.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.13. Trex had a net margin of 20.31% and a return on equity of 36.67%. The company had revenue of $200.40 million during the quarter, compared to analysts’ expectations of $196.40 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Trex Company Inc will post 2.67 EPS for the current year.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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