Cerity Partners LLC Sells 98,481 Shares of Trex Company, Inc. (NYSE:TREX)

Cerity Partners LLC lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 343,025 shares of the construction company’s stock after selling 98,481 shares during the quarter. Cerity Partners LLC owned about 0.32% of Trex worth $23,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TREX. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Bank of America lowered their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note 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, Barclays dropped their price target on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $78.24.

Trex Price Performance

Shares of TREX opened at $50.47 on Wednesday. The firm has a market capitalization of $5.41 billion, a P/E ratio of 23.05, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a one year low of $49.93 and a one year high of $97.46. The business has a fifty day moving average of $61.67 and a 200 day moving average of $67.28.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.