Nisa Investment Advisors LLC Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Nisa Investment Advisors LLC cut its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 37.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,793 shares of the construction company's stock after selling 5,170 shares during the quarter. Nisa Investment Advisors LLC's holdings in Trex were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TREX. Proficio Capital Partners LLC purchased a new position in Trex during the fourth quarter worth about $2,116,000. HighTower Advisors LLC boosted its holdings in Trex by 13.4% during the fourth quarter. HighTower Advisors LLC now owns 15,209 shares of the construction company's stock worth $1,050,000 after purchasing an additional 1,796 shares during the last quarter. Swiss National Bank boosted its holdings in Trex by 0.7% during the fourth quarter. Swiss National Bank now owns 213,800 shares of the construction company's stock worth $14,759,000 after purchasing an additional 1,500 shares during the last quarter. Natixis Advisors LLC raised its position in Trex by 8.9% in the fourth quarter. Natixis Advisors LLC now owns 51,060 shares of the construction company's stock worth $3,525,000 after acquiring an additional 4,154 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Trex by 12.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 19,828 shares of the construction company's stock worth $1,369,000 after acquiring an additional 2,165 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 1.6%

Shares of NYSE TREX traded up $1.00 during midday trading on Thursday, hitting $62.21. The company's stock had a trading volume of 947,076 shares, compared to its average volume of 1,459,679. The stock has a fifty day moving average price of $57.70 and a 200 day moving average price of $60.81. Trex Company, Inc. has a one year low of $49.01 and a one year high of $86.56. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.58 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. Trex's revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on TREX shares. Barclays lowered their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Loop Capital lifted their price objective on shares of Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a research report on Thursday, July 10th. Benchmark reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. UBS Group lowered their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Stephens lowered their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trex currently has an average rating of "Hold" and a consensus price target of $74.88.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president owned 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president directly owned 24,569 shares in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Corporate 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.