Artisan Partners Limited Partnership Sells 571,634 Shares of Trex Company, Inc. (NYSE:TREX)

Artisan Partners Limited Partnership decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 54.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 477,875 shares of the construction company’s stock after selling 571,634 shares during the quarter. Artisan Partners Limited Partnership owned 0.45% of Trex worth $32,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AustralianSuper Pty Ltd bought a new position in Trex in the 4th quarter valued at $110,414,000. Wasatch Advisors LP grew its holdings in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after buying an additional 839,837 shares during the period. Point72 Asset Management L.P. lifted its holdings in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after buying an additional 435,055 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by company insiders.

Trex Trading Down 3.3 %

Shares of TREX opened at $57.38 on Friday. The firm has a market cap of $6.15 billion, a PE ratio of 26.20, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 12 month low of $52.75 and a 12 month high of $99.86. The stock has a fifty day moving average price of $64.54 and a 200-day moving average price of $67.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. As a group, research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TREX shares. Bank of America reduced 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. decreased their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. DA Davidson reissued a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus target price of $78.63.

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.