Victory Capital Management Inc. Sells 29,523 Shares of Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. trimmed its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,510 shares of the construction company's stock after selling 29,523 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Trex worth $4,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. grew its stake in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after acquiring an additional 147 shares in the last quarter. Pacer Advisors Inc. lifted its position in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock valued at $1,102,000 after acquiring an additional 148 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock valued at $230,000 after buying an additional 175 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock worth $152,000 after acquiring an additional 184 shares during the period. Finally, Mather Group LLC. increased its stake in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com lowered shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. UBS Group dropped their target price on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. DA Davidson restated a "neutral" rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Finally, Bank of America reduced their target price 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $78.63.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.71% of the company's stock.

Trex Price Performance

Shares of NYSE TREX traded up $1.18 during mid-day trading on Wednesday, hitting $59.26. The company's stock had a trading volume of 1,135,555 shares, compared to its average volume of 1,152,489. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a one year low of $52.75 and a one year high of $100.77. The company's fifty day simple moving average is $65.84 and its 200-day simple moving average is $68.10.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. On average, sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

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.