Achmea Investment Management B.V. Sells 15,407 Shares of Trex Company, Inc. (NYSE:TREX)

Achmea Investment Management B.V. lowered its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,786 shares of the construction company's stock after selling 15,407 shares during the period. Achmea Investment Management B.V. owned about 0.17% of Trex worth $12,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. State Street Corp lifted its stake in Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company's stock worth $211,954,000 after purchasing an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Trex by 0.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company's stock worth $135,834,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trex by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company's stock worth $124,766,000 after buying an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Trex in the fourth quarter worth about $110,414,000. Institutional investors own 95.96% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Truist Financial decreased their price objective on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. UBS Group decreased their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trex presently has a consensus rating of "Hold" and an average price target of $78.63.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.71% of the company's stock.

Trex Trading Up 0.8 %

Trex stock traded up $0.47 during trading hours on Tuesday, hitting $58.07. 1,482,913 shares of the stock traded hands, compared to its average volume of 1,149,090. The firm's 50-day moving average price is $66.01 and its two-hundred day moving average price is $68.14. The company has a market cap of $6.22 billion, a PE ratio of 26.52, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a one year low of $52.75 and a one year high of $100.77.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analysts' expectations of $160.54 million. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share 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.