Legal & General Group Plc Sells 11,484 Shares of Trex Company, Inc. (NYSE:TREX)

Legal & General Group Plc reduced its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 173,546 shares of the construction company's stock after selling 11,484 shares during the quarter. Legal & General Group Plc owned 0.16% of Trex worth $11,980,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the 3rd quarter valued at approximately $30,000. Mather Group LLC. grew its holdings in 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 purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its stake in shares of Trex by 1,212.8% in 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 increased its holdings in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Trex during the fourth quarter worth about $41,000. Institutional investors own 95.96% of the company's stock.

Analyst Upgrades and Downgrades

TREX has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group lowered their target price 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. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Truist Financial lowered their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Trex has an average rating of "Hold" and a consensus target price of $77.18.

Trex Price Performance

NYSE:TREX traded up $1.60 during mid-day trading on Tuesday, reaching $55.26. 1,230,651 shares of the company's stock traded hands, compared to its average volume of 1,312,849. 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 price of $58.23 and a 200-day moving average price of $66.33. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.51 and a beta of 1.62.

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

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

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.