Nuveen Asset Management LLC Has $19.57 Million Stake in Trex Company, Inc. (NYSE:TREX)

Nuveen Asset Management LLC trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,437 shares of the construction company's stock after selling 14,363 shares during the quarter. Nuveen Asset Management LLC owned 0.26% of Trex worth $19,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after buying an additional 3,818,025 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after buying an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock worth $216,400,000 after buying an additional 2,578,734 shares during the last quarter. Bamco Inc. NY lifted its holdings in Trex by 6.2% during the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after buying an additional 126,441 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Trex by 86.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after buying an additional 939,960 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TREX has been the subject of several research reports. Truist Financial reduced their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. UBS Group reduced their target price on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Jefferies Financial Group reduced their target price on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Finally, Benchmark reissued a "buy" rating and issued a $80.00 target price on shares of Trex in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Trex presently has a consensus rating of "Hold" and a consensus target price of $76.65.

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president now directly owns 27,527 shares in the company, valued at $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now owns 24,569 shares in the company, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,286 shares of company stock valued at $323,003 over the last quarter. 0.71% of the stock is owned by company insiders.

Trex Stock Performance

Shares of NYSE:TREX traded down $2.09 on Wednesday, hitting $56.24. 532,361 shares of the company were exchanged, compared to its average volume of 1,357,707. The company's 50 day moving average price is $57.57 and its two-hundred day moving average price is $64.91. Trex Company, Inc. has a one year low of $49.01 and a one year high of $88.84. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.51 and a beta of 1.62.

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

Trex 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.