Nisa Investment Advisors LLC Sells 5,170 Shares of Trex Company, Inc. (NYSE:TREX)

Nisa Investment Advisors LLC decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 37.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,793 shares of the construction company’s stock after selling 5,170 shares during the period. Nisa Investment Advisors LLC’s holdings in Trex were worth $511,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TREX. Alliancebernstein L.P. boosted its stake in Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. Anomaly Capital Management LP increased its stake in Trex by 228.2% in the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock valued at $104,427,000 after acquiring an additional 1,051,888 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock valued at $140,064,000 after acquiring an additional 939,960 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Trex by 87.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,916,134 shares of the construction company’s stock valued at $132,271,000 after acquiring an additional 893,675 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president owned 24,569 shares in the company, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research analyst reports. UBS Group reduced their target price on Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Citigroup reduced their target price on Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Loop Capital increased their target price on Trex from $62.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, July 10th. Stephens reduced their target price on Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Finally, Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of Trex in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus price target of $74.88.

Trex Stock Up 0.6%

Shares of Trex stock opened at $61.23 on Thursday. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $86.56. The firm has a market cap of $6.57 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.58 and a beta of 1.50. The company’s fifty day simple moving average is $57.62 and its two-hundred day simple moving average is $60.86.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share 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.