Invesco Ltd. Cuts Stake in Trex Company, Inc. (NYSE:TREX)

Invesco Ltd. reduced its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,123,273 shares of the construction company's stock after selling 126,481 shares during the period. Invesco Ltd. owned approximately 1.05% of Trex worth $77,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Polymer Capital Management US LLC bought a new stake in shares of Trex during the 4th quarter worth approximately $2,133,000. Federated Hermes Inc. increased its stake in shares of Trex by 38.5% in the 4th quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company's stock valued at $86,289,000 after purchasing an additional 347,526 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Trex by 11.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company's stock worth $157,000 after buying an additional 243 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Trex by 112.5% in the fourth quarter. Russell Investments Group Ltd. now owns 209,896 shares of the construction company's stock valued at $14,489,000 after buying an additional 111,116 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Trex by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 327,247 shares of the construction company's stock valued at $22,590,000 after acquiring an additional 25,540 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 completion of the sale, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by insiders.

Trex Price Performance

Shares of Trex stock traded up $2.23 on Friday, reaching $55.65. 1,699,428 shares of the company traded hands, compared to its average volume of 1,307,587. The firm has a market capitalization of $5.97 billion, a PE ratio of 25.41, a PEG ratio of 2.51 and a beta of 1.62. The company has a 50 day moving average of $59.02 and a 200 day moving average of $66.60. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $94.00.

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 (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The company 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%. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TREX shares. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. DA Davidson reiterated a "neutral" rating and set a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut 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. Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Citigroup cut their price target on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.