Kornitzer Capital Management Inc. KS Lowers Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 94.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,522 shares of the construction company’s stock after selling 110,132 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trex were worth $450,000 at the end of the most recent quarter.

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

Trex Stock Performance

Shares of Trex stock opened at $66.42 on Thursday. The firm has a market cap of $7.12 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.51. The firm’s 50-day simple moving average is $70.75 and its 200-day simple moving average is $68.85. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the company 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. Finally, Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two equities 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.81.

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.