Independent Advisor Alliance Lowers Stock Position in Trex Company, Inc. (NYSE:TREX)

Independent Advisor Alliance cut its holdings in Trex Company, Inc. (NYSE:TREX) by 25.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,092 shares of the construction company’s stock after selling 1,768 shares during the quarter. Independent Advisor Alliance’s holdings in Trex were worth $351,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TREX. Principal Securities Inc. grew its holdings in Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. boosted its position in shares of Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after purchasing an additional 148 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Trex by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock worth $230,000 after buying an additional 175 shares during the last quarter. First Horizon Advisors Inc. increased its position in Trex by 8.8% during the 3rd 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 in the last quarter. Finally, Mather Group LLC. raised its stake in Trex by 73.5% during 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the topic of a number of recent research reports. Bank of America cut their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. DA Davidson restated a “neutral” rating and set a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased 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. Citigroup cut their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.63.

Trex Price Performance

Shares of NYSE:TREX opened at $58.07 on Wednesday. The firm’s 50 day simple moving average is $65.84 and its two-hundred day simple moving average is $68.10. The company has a market capitalization of $6.22 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $100.77.

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 during the quarter, compared to the consensus estimate of $160.54 million. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’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 transaction, the director now owns 1,705 shares in the company, 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 at the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Trex Company 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.