Montanaro Asset Management Ltd Sells 6,400 Shares of Trex Company, Inc. (NYSE:TREX)

Montanaro Asset Management Ltd trimmed its holdings in Trex Company, Inc. (NYSE:TREX) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 315,900 shares of the construction company’s stock after selling 6,400 shares during the period. Trex accounts for approximately 4.5% of Montanaro Asset Management Ltd’s portfolio, making the stock its 4th largest position. Montanaro Asset Management Ltd’s holdings in Trex were worth $21,807,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TREX. Xponance Inc. raised its holdings in Trex by 0.7% during the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 143 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after buying an additional 147 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after buying an additional 148 shares in the last quarter. Harrington Investments INC lifted its holdings in shares of Trex by 1.8% in the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock valued at $629,000 after buying an additional 159 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Trex by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Trex Trading Down 1.5 %

Shares of TREX opened at $61.11 on Thursday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52 week low of $52.75 and a 52 week high of $100.33. The stock has a 50 day moving average of $65.07 and a 200-day moving average of $68.00.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. 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 predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TREX. DA Davidson reiterated a “neutral” rating and issued a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Jefferies Financial Group dropped their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a research report on Monday, March 3rd. Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Bank of America reduced 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.63.

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.