Trex Company, Inc. (NYSE:TREX) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its position in Trex Company, Inc. (NYSE:TREX) by 87.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,916,134 shares of the construction company’s stock after acquiring an additional 893,675 shares during the period. Point72 Asset Management L.P.’s holdings in Trex were worth $132,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in shares of Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock worth $317,505,000 after acquiring an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock valued at $148,631,000 after purchasing an additional 126,441 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Trex by 86.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock worth $140,064,000 after purchasing an additional 939,960 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TREX. Bank of America cut their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. BMO Capital Markets raised shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Thursday, April 17th. Barclays reduced their price target on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Stephens dropped their target price on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Benchmark restated a “buy” rating and set a $80.00 price target on shares of Trex in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.65.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now directly owns 24,569 shares of the company’s stock, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the firm’s 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 sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Trex Price Performance

TREX opened at $60.49 on Thursday. The business has a fifty day moving average price of $57.19 and a 200 day moving average price of $65.71. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $92.02. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $339.99 million during the quarter, compared to analysts’ expectations of $329.11 million. During the same quarter last year, the business posted $0.82 EPS. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

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.