Victory Capital Management Inc. Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. cut its stake in Trex Company, Inc. (NYSE:TREX) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,510 shares of the construction company’s stock after selling 29,523 shares during the period. Victory Capital Management Inc. owned about 0.06% of Trex worth $4,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Securities Inc. lifted its position in Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after acquiring an additional 147 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 valued at $1,102,000 after buying an additional 148 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after buying an additional 175 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after buying an additional 184 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TREX. DA Davidson reaffirmed a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Jefferies Financial Group reduced their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and issued a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Finally, Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.63.

Trex Trading Up 5.3 %

Shares of TREX opened at $56.88 on Friday. The firm’s 50-day moving average is $66.26 and its two-hundred day moving average is $68.15. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $100.77. The firm has a market capitalization of $6.10 billion, a P/E ratio of 25.97, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $160.54 million. Analysts predict 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.