US Bancorp DE Sells 2,454 Shares of Trex Company, Inc. (NYSE:TREX)

US Bancorp DE decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,221 shares of the construction company’s stock after selling 2,454 shares during the period. US Bancorp DE’s holdings in Trex were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the period. State Street Corp lifted its stake in Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Trex by 0.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC lifted its stake in Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in shares of Trex in the fourth quarter valued at approximately $110,414,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TREX. JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group cut their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. UBS Group cut their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Trex Stock Performance

TREX opened at $54.27 on Tuesday. The company has a fifty day moving average price of $67.68 and a two-hundred day moving average price of $68.55. Trex Company, Inc. has a 52 week low of $53.66 and a 52 week high of $100.77. The firm has a market capitalization of $5.82 billion, a PE ratio of 24.78, a P/E/G ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its 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 firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Equities analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

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.