Ensign Peak Advisors Inc Decreases Holdings in Trex Company, Inc. (NYSE:TREX)

Ensign Peak Advisors Inc lowered its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 44.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,225 shares of the construction company's stock after selling 53,323 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Trex worth $4,572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its stake in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after purchasing an additional 473 shares during the last quarter. Huntington National Bank lifted its position in shares of Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the period. V Square Quantitative Management LLC lifted its position 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 purchasing an additional 202 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Trex by 33.4% in the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock valued at $60,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Stock Performance

Shares of Trex stock traded down $0.01 on Tuesday, hitting $60.59. The company had a trading volume of 70,475 shares, compared to its average volume of 1,341,586. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $88.87. The stock has a 50 day moving average of $57.55 and a 200-day moving average of $65.46. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Benchmark restated a "buy" rating and issued a $80.00 target price on shares of Trex in a report on Monday, May 12th. Stephens decreased their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Finally, UBS Group decreased their price target on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $76.65.

Insider Activity

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the transaction, the senior vice president now directly owns 24,569 shares of the company's stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock valued at $323,003 in the last three months. Company insiders own 0.71% of the company's stock.

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.