Guggenheim Capital LLC Reduces Holdings in Trex Company, Inc. (NYSE:TREX)

Guggenheim Capital LLC lowered its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 35.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,393 shares of the construction company's stock after selling 4,528 shares during the period. Guggenheim Capital LLC's holdings in Trex were worth $579,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex in the 3rd quarter worth $30,000. Mather Group LLC. raised its stake in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares during the period. Huntington National Bank grew its holdings in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Trex during the fourth quarter valued at approximately $41,000. Institutional investors own 95.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TREX. Citigroup cut their price target on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective for the company. DA Davidson restated a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $77.18.

Trex Price Performance

Shares of TREX stock traded up $0.37 on Tuesday, hitting $57.81. 1,220,600 shares of the company's stock were exchanged, compared to its average volume of 1,322,935. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00. The company has a 50 day moving average of $57.49 and a 200 day moving average of $66.16. The stock has a market cap of $6.20 billion, a P/E ratio of 26.40, a price-to-earnings-growth 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 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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 value of $87,869.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company's stock.

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.