Yarbrough Capital LLC Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Yarbrough Capital LLC cut its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 62.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,476 shares of the construction company's stock after selling 7,334 shares during the quarter. Yarbrough Capital LLC's holdings in Trex were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in Trex by 54.5% in 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 grew its position in Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after purchasing an additional 523,113 shares during the period. Price T Rowe Associates Inc. MD grew its position in Trex by 463.7% in 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 purchasing an additional 2,578,734 shares during the period. Bamco Inc. NY grew its position in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after purchasing an additional 126,441 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Trex by 86.3% in 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 purchasing an additional 939,960 shares during the period. 95.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stephens dropped their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Truist Financial dropped their target price on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Jefferies Financial Group decreased their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. UBS Group decreased their price target 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, DA Davidson reiterated a "neutral" rating and issued a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $76.65.

Insider Activity at Trex

In related news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 directly owns 24,569 shares in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm'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 owns 27,527 shares of the company's stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Trex Stock Down 2.6%

TREX stock traded down $1.50 during trading on Wednesday, hitting $56.66. The company had a trading volume of 1,551,950 shares, compared to its average volume of 1,390,159. The company has a 50 day simple moving average of $56.95 and a 200-day simple moving average of $63.92. The firm has a market capitalization of $6.08 billion, a P/E ratio of 25.87, a PEG ratio of 2.51 and a beta of 1.52. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $87.43.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results 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. 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 20.23% and a return on equity of 28.89%. The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

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.