Securian Asset Management Inc. Cuts Stock Position in Trex Company, Inc. (NYSE:TREX)

Securian Asset Management Inc. lessened its stake in Trex Company, Inc. (NYSE:TREX) by 4.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,099 shares of the construction company’s stock after selling 354 shares during the quarter. Securian Asset Management Inc.’s holdings in Trex were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its holdings in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp increased its holdings in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC increased its holdings in Trex by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after acquiring an additional 35,039 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Trex in the 4th quarter worth $110,414,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TREX shares. 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. Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. dropped 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. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. 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 given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $78.63.

Insider Buying and Selling at Trex

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 transaction of $87,869.60. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Trex Price Performance

NYSE TREX opened at $56.88 on Monday. The firm’s 50-day moving average is $66.26 and its two-hundred day moving average is $68.18. Trex Company, Inc. has a 12 month low of $52.75 and a 12 month high of $100.77. The stock has a market capitalization of $6.10 billion, a P/E ratio of 25.97, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last posted 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 net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

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.