American Century Companies Inc. trimmed its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,187,305 shares of the construction company's stock after selling 651,223 shares during the period. American Century Companies Inc. owned 1.11% of Trex worth $81,960,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its stake in Trex by 0.7% during the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after purchasing an additional 143 shares during the last quarter. Principal Securities Inc. lifted its holdings in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after buying an additional 147 shares during the period. Pacer Advisors Inc. increased its position in Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock valued at $1,102,000 after purchasing an additional 148 shares during the period. Harrington Investments INC boosted its position in Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock valued at $629,000 after acquiring an additional 159 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock worth $230,000 after purchasing an additional 175 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.71% of the company's stock.
Trex Stock Performance
TREX stock traded down $1.94 during midday trading on Friday, reaching $57.38. The company's stock had a trading volume of 2,069,059 shares, compared to its average volume of 1,231,152. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $99.86. The stock has a fifty day simple moving average of $64.54 and a two-hundred day simple moving average of $67.91.
Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TREX. StockNews.com downgraded shares of Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Bank of America dropped their price target on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. UBS Group reduced their target price on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. DA Davidson reaffirmed a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. Finally, Truist Financial reduced their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $78.63.
Read Our Latest Research Report on Trex
About Trex
(
Free Report)
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.
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