Renaissance Group LLC lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 4,789 shares of the company’s stock after selling 31 shares during the period. Renaissance Group LLC’s holdings in Trex Company were worth $308,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in Trex Company by 311.1% in the second quarter. Nordea Investment Management AB now owns 15,267 shares of the company’s stock worth $686,000 after buying an additional 11,553 shares during the last quarter. Shelton Capital Management raised its position in Trex Company by 17.8% in the second quarter. Shelton Capital Management now owns 16,498 shares of the company’s stock worth $741,000 after buying an additional 2,498 shares during the last quarter. New Amsterdam Partners LLC NY raised its position in Trex Company by 40.4% in the second quarter. New Amsterdam Partners LLC NY now owns 168,572 shares of the company’s stock worth $7,572,000 after buying an additional 48,486 shares during the last quarter. Lebenthal Lisanti Capital Growth LLC acquired a new position in Trex Company during the second quarter worth approximately $893,000. Finally, Teacher Retirement System of Texas raised its position in Trex Company by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,311 shares of the company’s stock worth $194,000 after buying an additional 523 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.
Shares of Trex Company, Inc. (NYSE:TREX) traded down 1.4597% on Friday, hitting $69.5399. The stock had a trading volume of 147,797 shares. The company has a 50-day moving average of $68.16 and a 200-day moving average of $62.85. Trex Company, Inc. has a 52-week low of $33.88 and a 52-week high of $72.21. The company has a market cap of $2.04 billion, a P/E ratio of 33.6755 and a beta of 2.33.
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A number of research analysts have commented on TREX shares. Zacks Investment Research raised Trex Company from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, October 21st. Stifel Nicolaus upped their price target on Trex Company from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, November 9th. FBR & Co lowered Trex Company from an “outperform” rating to a “market perform” rating and set a $61.00 target price for the company. in a research report on Tuesday, November 22nd. Finally, Seaport Global Securities assumed coverage on Trex Company in a research report on Tuesday, November 22nd. They issued a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $63.50.
In related news, Director Richard E. Posey sold 2,180 shares of Trex Company stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $68.44, for a total value of $149,199.20. Following the completion of the transaction, the director now owns 16,235 shares in the company, valued at $1,111,123.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.
About Trex Company
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.
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