Trex Company, Inc. (NYSE:TREX) Shares Sold by Nuveen Asset Management LLC

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

Other large investors also recently bought and sold shares of the company. Mather Group LLC. increased its position in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank increased its position in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after buying an additional 393 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after buying an additional 202 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Trex by 33.4% during the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after purchasing an additional 218 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of Trex stock traded up $1.38 during trading hours on Tuesday, hitting $58.30. The company's stock had a trading volume of 1,421,465 shares, compared to its average volume of 1,360,744. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $88.84. The firm has a fifty day moving average of $57.60 and a 200-day moving average of $64.96. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter in the prior year, the company posted $0.82 EPS. The company's quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target for the company. Citigroup dropped their price target on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group dropped their price target on 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 set a $80.00 price target on shares of Trex in a research report on Monday, May 12th. Finally, UBS Group dropped their price target on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Two research 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $76.65.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president now directly owns 27,527 shares in the company, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. This trade 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 worth $323,003 in the last three months. 0.71% of the stock is owned by company insiders.

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.