Bank of America Corp DE Decreases Stock Position in Trex Company, Inc. (NYSE:TREX)

Bank of America Corp DE reduced its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 457,825 shares of the construction company's stock after selling 206,692 shares during the quarter. Bank of America Corp DE owned 0.43% of Trex worth $31,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BLI Banque de Luxembourg Investments acquired a new stake in Trex in the fourth quarter valued at about $699,000. Ameriprise Financial Inc. lifted its holdings in shares of Trex by 3.3% in the 4th quarter. Ameriprise Financial Inc. now owns 424,010 shares of the construction company's stock valued at $29,269,000 after buying an additional 13,466 shares during the period. AXA S.A. boosted its stake in shares of Trex by 18.9% in the fourth quarter. AXA S.A. now owns 286,682 shares of the construction company's stock valued at $19,790,000 after buying an additional 45,632 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Trex by 35.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,004 shares of the construction company's stock worth $553,000 after acquiring an additional 2,086 shares during the period. Finally, Northern Trust Corp raised its position in Trex by 20.0% in the fourth quarter. Northern Trust Corp now owns 954,821 shares of the construction company's stock worth $65,911,000 after acquiring an additional 159,315 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Price Performance

TREX traded down $0.19 during trading on Tuesday, hitting $60.40. The company's stock had a trading volume of 615,050 shares, compared to its average volume of 1,343,698. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $88.87. The firm's 50 day moving average price is $57.55 and its 200-day moving average price is $65.46. The stock has a market cap of $6.48 billion, a PE ratio of 27.58, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. During the same period in the prior year, the business posted $0.82 earnings per share. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares of the company's stock, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

TREX has been the topic of several research analyst reports. Bank of America decreased their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Barclays decreased their price target on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Benchmark reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. Finally, Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.65.

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.