American Century Companies Inc. Reduces Position in Trex Company, Inc. (NYSE:TREX)

American Century Companies Inc. decreased its position in Trex Company, Inc. (NYSE:TREX) by 35.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,187,305 shares of the construction company’s stock after selling 651,223 shares during the period. American Century Companies Inc.’s holdings in Trex were worth $81,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Trex by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company’s stock worth $60,060,000 after buying an additional 27,992 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Trex by 20.4% in the third quarter. Eagle Asset Management Inc. now owns 46,653 shares of the construction company’s stock worth $3,394,000 after acquiring an additional 7,902 shares during the period. Citigroup Inc. boosted its stake in shares of Trex by 42.3% during the 3rd quarter. Citigroup Inc. now owns 68,775 shares of the construction company’s stock worth $4,579,000 after acquiring an additional 20,445 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Trex by 17.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,490 shares of the construction company’s stock valued at $232,000 after acquiring an additional 527 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Trex by 22.1% in the 3rd quarter. Fisher Asset Management LLC now owns 119,296 shares of the construction company’s stock valued at $7,943,000 after purchasing an additional 21,597 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Up 4.4 %

NYSE TREX opened at $62.02 on Tuesday. Trex Company, Inc. has a 52 week low of $52.75 and a 52 week high of $100.77. The business’s fifty day simple moving average is $65.41 and its 200-day simple moving average is $68.05. The firm has a market cap of $6.65 billion, a PE ratio of 28.32, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on TREX. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group reduced their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. Finally, DA Davidson restated a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $78.63.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the 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 completion of the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by insiders.

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.