Prudential Financial Inc. Decreases Stake in Trex Company, Inc. (NYSE:TREX)

Prudential Financial Inc. trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 62.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TREX. Xponance Inc. grew its stake in Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 143 shares in the last quarter. Principal Securities Inc. grew its position in shares of Trex by 5.0% during the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after buying an additional 147 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after buying an additional 148 shares during the last quarter. Harrington Investments INC raised its holdings in Trex by 1.8% in the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock valued at $629,000 after acquiring an additional 159 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after acquiring an additional 175 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TREX. Barclays cut their target price on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $78.24.

Insider Buying and Selling

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

Trex Price Performance

Shares of TREX stock opened at $54.93 on Friday. The business has a 50 day simple moving average of $60.69 and a 200 day simple moving average of $67.02. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $94.00.

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

About Trex

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.