Cerity Partners LLC Sells 98,481 Shares of Trex Company, Inc. (NYSE:TREX)

Cerity Partners LLC lowered its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 343,025 shares of the construction company's stock after selling 98,481 shares during the quarter. Cerity Partners LLC owned 0.32% of Trex worth $23,673,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Trex by 97.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company's stock valued at $53,098,000 after purchasing an additional 393,850 shares during the period. Atomi Financial Group Inc. bought a new position in Trex in the fourth quarter valued at approximately $247,000. SG Americas Securities LLC increased its position in shares of Trex by 298.5% during the fourth quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company's stock worth $424,000 after acquiring an additional 4,597 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Trex by 7.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after acquiring an additional 969 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Trex by 26.6% during the fourth quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock worth $514,000 after acquiring an additional 1,566 shares during the period. Institutional investors own 95.96% of the company's stock.

Trex Stock Up 0.7 %

Shares of TREX stock traded up $0.41 during trading on Monday, reaching $55.36. 429,656 shares of the company's stock were exchanged, compared to its average volume of 1,288,769. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $94.00. The firm's fifty day moving average price is $60.36 and its 200-day moving average price is $66.94. The stock has a market capitalization of $5.94 billion, a PE ratio of 25.28, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction 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 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 through this hyperlink. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. UBS Group cut their target price on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, DA Davidson reissued a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Trex has a consensus rating of "Hold" and an average price target of $77.18.

Trex 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.