Pembroke Management LTD Decreases Stock Position in Trex Company, Inc. (NYSE:TREX)

Pembroke Management LTD reduced its position in Trex Company, Inc. (NYSE:TREX) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 368,520 shares of the construction company’s stock after selling 3,286 shares during the quarter. Trex comprises approximately 3.2% of Pembroke Management LTD’s investment portfolio, making the stock its 11th largest position. Pembroke Management LTD owned about 0.34% of Trex worth $25,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Trex by 134.6% in the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock worth $118,000 after acquiring an additional 1,015 shares during the last quarter. Raymond James & Associates increased its position in Trex by 6.0% during the third quarter. Raymond James & Associates now owns 210,145 shares of the construction company’s stock worth $13,991,000 after purchasing an additional 11,922 shares during the last quarter. Monte Financial Group LLC raised its stake in Trex by 30.6% during the third quarter. Monte Financial Group LLC now owns 15,597 shares of the construction company’s stock worth $1,038,000 after purchasing an additional 3,653 shares during the period. International Assets Investment Management LLC boosted its holdings in Trex by 7,363.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock valued at $164,000 after purchasing an additional 2,430 shares during the last quarter. Finally, First National Bank of Hutchinson grew its stake in shares of Trex by 16.0% in the 3rd quarter. First National Bank of Hutchinson now owns 12,413 shares of the construction company’s stock valued at $826,000 after buying an additional 1,712 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Trading Down 0.8 %

Shares of TREX opened at $67.25 on Tuesday. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.82 and a beta of 1.51. The firm’s fifty day simple moving average is $71.22 and its 200-day simple moving average is $68.94. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays cut their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Robert W. Baird upped their price target on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.81.

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.