Trex Company, Inc. (NYSE:TREX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 68.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,284 shares of the construction company's stock after selling 544,229 shares during the quarter. JPMorgan Chase & Co. owned 0.24% of Trex worth $17,484,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Trex in the third quarter valued at $30,000. Mather Group LLC. raised its holdings in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC boosted its position in 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 acquired a new stake in Trex in the fourth quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC increased its position in shares of Trex by 47.4% in the fourth 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 owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction that occurred 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 directly owns 1,705 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.71% of the company's stock.

Trex Stock Performance

Shares of Trex stock traded up $1.22 on Thursday, reaching $54.64. The company had a trading volume of 238,306 shares, compared to its average volume of 1,296,882. The firm has a market cap of $5.86 billion, a PE ratio of 25.01, a PEG ratio of 2.51 and a beta of 1.62. The firm's 50 day moving average price is $59.31 and its two-hundred day moving average price is $66.67. 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 earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm 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%. As a group, sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TREX. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price on the stock. StockNews.com downgraded shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Barclays dropped their price target on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Thursday. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.18.

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.