Trex Company Inc (TREX) Position Trimmed by Renaissance Group LLC

Renaissance Group LLC decreased its position in shares of Trex Company Inc (NYSE:TREX) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,715 shares of the construction company’s stock after selling 1,142 shares during the quarter. Renaissance Group LLC’s holdings in Trex were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in Trex by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock worth $1,537,000 after buying an additional 104 shares during the period. Suntrust Banks Inc. raised its holdings in Trex by 7.3% during the 2nd quarter. Suntrust Banks Inc. now owns 4,894 shares of the construction company’s stock worth $331,000 after buying an additional 331 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Trex by 27.7% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock worth $228,000 after buying an additional 553 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Trex by 9.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,418 shares of the construction company’s stock worth $668,000 after buying an additional 620 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Trex by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the construction company’s stock worth $1,377,000 after buying an additional 800 shares during the period. 88.72% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Thursday, January 11th. SunTrust Banks restated a “hold” rating and set a $95.00 target price on shares of Trex in a report on Wednesday, November 1st. B. Riley restated a “neutral” rating and set a $96.00 target price (up from $80.00) on shares of Trex in a report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $89.00 target price on shares of Trex in a report on Wednesday, November 1st. Finally, FBR & Co lifted their price objective on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Trex currently has a consensus rating of “Buy” and an average price target of $99.00.

In related news, Director Jay M. Gratz sold 1,418 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $111.05, for a total transaction of $157,468.90. Following the transaction, the director now directly owns 8,901 shares in the company, valued at $988,456.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard E. Posey sold 2,322 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total transaction of $258,183.18. Following the transaction, the director now owns 11,591 shares in the company, valued at $1,288,803.29. The disclosure for this sale can be found here. Insiders sold 6,956 shares of company stock worth $767,076 over the last quarter. 0.95% of the stock is owned by corporate insiders.

Shares of Trex Company Inc (TREX) opened at $108.37 on Friday. Trex Company Inc has a fifty-two week low of $61.57 and a fifty-two week high of $120.40. The stock has a market cap of $3,188.79, a P/E ratio of 35.77 and a beta of 2.31.

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About Trex

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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