Vanguard Group Inc. Trims Stake in Trex Company, Inc. (NYSE:TREX)

Vanguard Group Inc. lessened its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,197,474 shares of the construction company's stock after selling 21,709 shares during the period. Vanguard Group Inc. owned 9.52% of Trex worth $703,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TREX. LPL Financial LLC increased its stake in shares of Trex by 28.4% during the fourth quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after buying an additional 28,176 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Trex during the 4th quarter valued at $1,519,000. Sei Investments Co. raised its holdings in Trex by 18.8% in the 4th quarter. Sei Investments Co. now owns 421,489 shares of the construction company's stock worth $29,095,000 after purchasing an additional 66,661 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Trex in the 4th quarter worth about $518,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Trex by 37.0% in the 4th quarter. TD Private Client Wealth LLC now owns 3,936 shares of the construction company's stock worth $272,000 after purchasing an additional 1,063 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insider Activity at Trex

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

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Trex Trading Down 6.2 %

TREX traded down $3.69 during trading on Thursday, hitting $56.30. 1,207,015 shares of the company's stock traded hands, compared to its average volume of 1,241,954. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.51 and a beta of 1.60. The company's 50 day simple moving average is $63.73 and its two-hundred day simple moving average is $67.82. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $97.69.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. The business 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%. On average, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TREX. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research report on Tuesday. They issued a "buy" rating and a $85.00 target price for the company. DA Davidson restated a "neutral" rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. UBS Group decreased their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Trex has a consensus rating of "Hold" and a consensus target price of $79.00.

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.