Commonwealth Equity Services LLC Reduces Stock Position in Trex Company, Inc. (NYSE:TREX)

Commonwealth Equity Services LLC lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 30,835 shares of the construction company’s stock after selling 545 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Trex were worth $2,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TREX. AustralianSuper Pty Ltd bought a new stake in shares of Trex in the 4th quarter worth approximately $110,414,000. Wasatch Advisors LP lifted its stake in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after acquiring an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. increased its position in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of Trex stock opened at $59.41 on Friday. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $100.33. The firm’s 50-day moving average is $64.83 and its 200 day moving average is $67.94.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TREX. UBS Group cut their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Finally, DA Davidson reiterated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.63.

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.