Principal Financial Group Inc. Sells 27,370 Shares of Trex Company, Inc. (NYSE:TREX)

Principal Financial Group Inc. lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 640,881 shares of the construction company’s stock after selling 27,370 shares during the quarter. Principal Financial Group Inc.’s holdings in Trex were worth $44,240,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the 3rd quarter valued at approximately $30,000. Mather Group LLC. raised its position in shares of Trex by 73.5% in the 4th 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 raised its position in shares of Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Trex in the 4th quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC raised its position in shares of Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after acquiring an additional 202 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 2.0 %

NYSE TREX opened at $64.97 on Friday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a market capitalization of $6.96 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.51. The firm’s 50 day moving average is $70.48 and its 200-day moving average is $68.82.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TREX shares. Barclays cut their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, DA Davidson raised their target price on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.81.

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.