Motley Fool Asset Management LLC Sells 3,317 Shares of Trex Company, Inc. (NYSE:TREX)

Motley Fool Asset Management LLC reduced its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,913 shares of the construction company’s stock after selling 3,317 shares during the quarter. Motley Fool Asset Management LLC owned approximately 0.09% of Trex worth $6,690,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Trex during the 4th quarter worth $110,414,000. Jacobs Levy Equity Management Inc. boosted its stake in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after buying an additional 839,837 shares in the last quarter. Norges Bank acquired a new stake in Trex in the fourth quarter valued at about $54,084,000. Finally, Point72 Asset Management L.P. grew its position in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after acquiring an additional 511,163 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

TREX has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Truist Financial lowered their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.00.

Trex Stock Performance

Shares of NYSE TREX opened at $60.00 on Thursday. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $97.69. The company’s 50 day moving average price is $63.73 and its 200-day moving average price is $67.82. The company has a market capitalization of $6.43 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current 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.