Allianz Asset Management GmbH Sells 18,146 Shares of Trex Company, Inc. (NYSE:TREX)

Allianz Asset Management GmbH lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,951 shares of the construction company’s stock after selling 18,146 shares during the quarter. Allianz Asset Management GmbH’s holdings in Trex were worth $46,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex in the 3rd quarter worth $30,000. Mather Group LLC. grew its stake in shares of Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Trex in the 4th quarter worth $41,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TREX. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays reduced their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.81.

Trex Stock Down 6.8 %

TREX opened at $60.59 on Friday. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.51 and a beta of 1.51. The firm has a 50-day moving average price of $70.15 and a 200-day moving average price of $68.67. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

About Trex

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.