American Century Companies Inc. Sells 651,223 Shares of Trex Company, Inc. (NYSE:TREX)

American Century Companies Inc. cut its stake in Trex Company, Inc. (NYSE:TREX) by 35.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,187,305 shares of the construction company’s stock after selling 651,223 shares during the quarter. American Century Companies Inc. owned about 1.11% of Trex worth $81,960,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of Trex during the 4th quarter worth about $518,000. TD Private Client Wealth LLC lifted its stake in Trex by 37.0% in the fourth quarter. TD Private Client Wealth LLC now owns 3,936 shares of the construction company’s stock worth $272,000 after purchasing an additional 1,063 shares during the last quarter. First National Bank of Hutchinson boosted its position in shares of Trex by 16.2% during the fourth quarter. First National Bank of Hutchinson now owns 14,429 shares of the construction company’s stock valued at $996,000 after buying an additional 2,016 shares during the period. Trillium Asset Management LLC grew its stake in shares of Trex by 28.5% during the fourth quarter. Trillium Asset Management LLC now owns 207,468 shares of the construction company’s stock valued at $14,322,000 after buying an additional 46,043 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Trex by 0.7% in the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after buying an additional 143 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TREX. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price target 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. Citigroup decreased their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Benchmark restated a “buy” rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Finally, Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Price Performance

Shares of NYSE TREX opened at $62.02 on Tuesday. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $100.77. The business has a fifty day moving average price of $65.41 and a 200 day moving average price of $68.05. The stock has a market capitalization of $6.65 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

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

Insider Buying and Selling at Trex

In other Trex 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 completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

About Trex

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.