Trex Company, Inc. (NYSE:TREX) Stake Lessened by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 62.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,065 shares of the construction company’s stock after selling 8,510 shares during the quarter. Prudential Financial Inc.’s holdings in Trex were worth $346,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TREX. HighTower Advisors LLC increased its holdings in shares of Trex by 18.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,413 shares of the construction company’s stock valued at $892,000 after purchasing an additional 2,072 shares during the period. State Street Corp increased its stake in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after buying an additional 37,436 shares during the period. MML Investors Services LLC lifted its position in Trex by 22.7% in the 3rd quarter. MML Investors Services LLC now owns 36,438 shares of the construction company’s stock worth $2,426,000 after buying an additional 6,736 shares in the last quarter. Barclays PLC lifted its position in Trex by 8.8% in the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company’s stock worth $9,961,000 after buying an additional 12,085 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Trex by 24.3% during the 3rd quarter. M&T Bank Corp now owns 4,055 shares of the construction company’s stock valued at $270,000 after acquiring an additional 793 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TREX shares. Citigroup cut their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Truist Financial reduced their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, DA Davidson restated a “neutral” rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average target price of $78.24.

Trex Stock Performance

NYSE TREX opened at $54.93 on Friday. The stock has a market capitalization of $5.89 billion, a PE ratio of 25.08, a P/E/G ratio of 2.51 and a beta of 1.62. The stock has a 50-day simple moving average of $60.69 and a 200 day simple moving average of $67.02. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $94.00.

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

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.