Artisan Partners Limited Partnership Decreases Stake in Trex Company, Inc. (NYSE:TREX)

Artisan Partners Limited Partnership decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 54.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 477,875 shares of the construction company's stock after selling 571,634 shares during the period. Artisan Partners Limited Partnership owned approximately 0.45% of Trex worth $32,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Summitry LLC bought a new stake in shares of Trex during the 4th quarter valued at about $221,000. LPL Financial LLC lifted its position in Trex by 28.4% during the fourth quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after purchasing an additional 28,176 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Trex in the 4th quarter worth approximately $1,519,000. Sei Investments Co. increased its holdings in shares of Trex by 18.8% in the 4th quarter. Sei Investments Co. now owns 421,489 shares of the construction company's stock worth $29,095,000 after buying an additional 66,661 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Trex during the 4th quarter valued at $518,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company's stock.

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Trex Price Performance

TREX stock traded up $1.27 during trading on Wednesday, reaching $59.73. The company had a trading volume of 214,561 shares, compared to its average volume of 1,594,737. Trex Company, Inc. has a 52 week low of $52.75 and a 52 week high of $97.69. The business has a 50 day moving average of $63.98 and a 200 day moving average of $67.88. The company has a market cap of $6.40 billion, a P/E ratio of 27.26, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research analyst reports. Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. DA Davidson reissued a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research report on Tuesday. They issued a "buy" rating and a $85.00 target price on the stock. Two equities research 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $79.00.

About Trex

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.