Shelton Capital Management Trims Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Shelton Capital Management lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,410 shares of the construction company’s stock after selling 236 shares during the period. Shelton Capital Management’s holdings in Trex were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TREX. Creative Planning grew its holdings in Trex by 0.3% in the 2nd quarter. Creative Planning now owns 56,845 shares of the construction company’s stock valued at $3,727,000 after buying an additional 159 shares during the period. Kestra Private Wealth Services LLC grew its holdings in Trex by 0.3% in the second quarter. Kestra Private Wealth Services LLC now owns 62,563 shares of the construction company’s stock valued at $4,102,000 after purchasing an additional 200 shares during the period. Steward Partners Investment Advisory LLC increased its position in Trex by 3.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 5,800 shares of the construction company’s stock worth $282,000 after purchasing an additional 206 shares during the last quarter. MAI Capital Management raised its stake in Trex by 5.6% during the second quarter. MAI Capital Management now owns 4,352 shares of the construction company’s stock worth $285,000 after purchasing an additional 230 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Trex by 20.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,446 shares of the construction company’s stock valued at $95,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.

Trex Stock Performance

Shares of Trex stock opened at $67.81 on Tuesday. The firm has a market cap of $7.36 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.59 and a beta of 1.49. Trex Company, Inc. has a 1 year low of $40.69 and a 1 year high of $76.05. The firm’s 50-day simple moving average is $60.83 and its 200-day simple moving average is $63.06.

Trex (NYSE:TREX) last released its earnings results on Monday, October 30th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Trex had a return on equity of 34.43% and a net margin of 17.73%. The company had revenue of $303.84 million for the quarter, compared to the consensus estimate of $290.12 million. During the same quarter last year, the business posted $0.14 EPS. Trex’s quarterly revenue was up 61.2% compared to the same quarter last year. On average, equities analysts predict that Trex Company, Inc. will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group began coverage on Trex in a report on Tuesday, October 3rd. They set a “buy” rating and a $78.00 price objective for the company. BMO Capital Markets lifted their price objective on Trex from $70.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 31st. Jefferies Financial Group dropped their target price on shares of Trex from $79.00 to $66.00 in a research report on Thursday, October 12th. Citigroup began coverage on shares of Trex in a report on Friday, August 25th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of Trex from $78.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.76.

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.