Aviva PLC Lowers Position in Trex Company, Inc. (NYSE:TREX)

Aviva PLC cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,645 shares of the construction company’s stock after selling 644 shares during the quarter. Aviva PLC’s holdings in Trex were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TREX. Alliancebernstein L.P. grew its holdings in shares of Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the period. AustralianSuper Pty Ltd acquired a new position in Trex during the 4th quarter worth about $110,414,000. Norges Bank acquired a new position in Trex during the 4th quarter worth about $54,084,000. JPMorgan Chase & Co. lifted its stake in Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after acquiring an additional 393,850 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Trex during the 4th quarter worth about $17,677,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

TREX opened at $57.41 on Thursday. The business’s 50-day simple moving average is $61.03 and its 200-day simple moving average is $67.12. The company has a market cap of $6.16 billion, a P/E ratio of 26.21, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a one year low of $49.01 and a one year high of $94.00.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the topic of several research reports. Truist Financial decreased their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. UBS Group decreased their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup reduced their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.24.

Insider Buying and Selling at Trex

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

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.