Allianz Asset Management GmbH Sells 18,146 Shares of Trex Company, Inc. (NYSE:TREX)

Allianz Asset Management GmbH trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 668,951 shares of the construction company’s stock after selling 18,146 shares during the quarter. Allianz Asset Management GmbH owned 0.62% of Trex worth $46,178,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its holdings in Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the last quarter. State Street Corp grew its holdings in Trex by 1.2% during the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Trex by 0.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after acquiring an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Trex by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after purchasing an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Trex in the 4th quarter worth approximately $110,414,000. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating 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 report on Tuesday, October 29th. Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. DA Davidson boosted their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Barclays dropped their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.81.

Trex Trading Down 6.8 %

Shares of TREX stock opened at $60.59 on Friday. The firm has a market capitalization of $6.49 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The firm has a fifty day simple moving average of $70.15 and a two-hundred day simple moving average of $68.67. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

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.