Principal Financial Group Inc. Reduces Stake in Trex Company, Inc. (NYSE:TREX)

Principal Financial Group Inc. cut its holdings in Trex Company, Inc. (NYSE:TREX) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 668,251 shares of the construction company’s stock after selling 15,240 shares during the period. Principal Financial Group Inc. owned about 0.62% of Trex worth $44,492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new stake in Trex during the 2nd quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the 3rd quarter worth about $30,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex during the 2nd quarter worth about $44,000. Quarry LP raised its position in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TREX shares. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays dropped their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Robert W. Baird upped their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

TREX stock opened at $70.21 on Monday. The stock’s fifty day moving average is $71.43 and its two-hundred day moving average is $71.56. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

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. 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.