Prudential Financial Inc. Reduces Stake in Trex Company, Inc. (NYSE:TREX)

Prudential Financial Inc. cut its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,065 shares of the construction company's stock after selling 8,510 shares during the period. Prudential Financial Inc.'s holdings in Trex were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex during the 3rd quarter valued at about $30,000. Mather Group LLC. raised 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 acquiring an additional 191 shares during the period. Avior Wealth Management LLC grew 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 worth $35,000 after purchasing an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Trex in the 4th quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC grew its holdings in Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after buying an additional 202 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TREX shares. Bank of America reduced their price target on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. UBS Group dropped their price objective on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group lowered their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Barclays lowered their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.18.

Trex Price Performance

NYSE:TREX traded down $0.35 during trading hours on Wednesday, hitting $54.32. 96,561 shares of the company were exchanged, compared to its average volume of 1,294,048. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $94.00. The company's 50 day moving average price is $59.65 and its 200-day moving average price is $66.77. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million for 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%. On average, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on 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 owns 1,705 shares of the company's stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company's stock.

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.