Motley Fool Asset Management LLC Sells 3,317 Shares of Trex Company, Inc. (NYSE:TREX)

Motley Fool Asset Management LLC reduced its position in Trex Company, Inc. (NYSE:TREX) by 3.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 96,913 shares of the construction company’s stock after selling 3,317 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Trex were worth $6,690,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TREX. FMR LLC grew its holdings in shares of Trex by 6.0% during the third quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock valued at $84,085,000 after buying an additional 71,761 shares during the last quarter. Paloma Partners Management Co bought a new position in Trex in the 3rd quarter valued at about $206,000. Benjamin Edwards Inc. acquired a new position in Trex during the 3rd quarter valued at about $734,000. Holocene Advisors LP increased its holdings in Trex by 25.1% during the 3rd quarter. Holocene Advisors LP now owns 109,812 shares of the construction company’s stock worth $7,311,000 after purchasing an additional 22,054 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its stake in shares of Trex by 16.0% in the third quarter. Hilltop Holdings Inc. now owns 5,909 shares of the construction company’s stock worth $393,000 after purchasing an additional 813 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Up 2.6 %

Shares of NYSE:TREX opened at $60.00 on Thursday. The firm has a market capitalization of $6.43 billion, a PE ratio of 27.40, a P/E/G ratio of 2.51 and a beta of 1.60. The company has a 50-day moving average price of $63.73 and a two-hundred day moving average price of $67.82. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $97.69.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating 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 business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Trex in a report on Tuesday. They set a “buy” rating and a $85.00 price target for the company. Truist Financial lowered their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Bank of America cut their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group cut their target price on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Two equities research 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. Based on data from MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $79.00.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the 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 directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company 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.