Adage Capital Partners GP L.L.C. Purchases New Shares in Trex Company, Inc. (NYSE:TREX)

Adage Capital Partners GP L.L.C. purchased a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 424,000 shares of the construction company's stock, valued at approximately $29,269,000. Adage Capital Partners GP L.L.C. owned approximately 0.40% of Trex at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TREX. Pinebridge Investments L.P. boosted its holdings in shares of Trex by 3.0% in the 4th quarter. Pinebridge Investments L.P. now owns 26,609 shares of the construction company's stock valued at $1,837,000 after purchasing an additional 784 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Trex by 463.7% in 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 purchasing an additional 2,578,734 shares in the last quarter. Anomaly Capital Management LP boosted its holdings in shares of Trex by 228.2% in the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock valued at $104,427,000 after purchasing an additional 1,051,888 shares in the last quarter. Southernsun Asset Management LLC boosted its holdings in shares of Trex by 1.1% in the 4th quarter. Southernsun Asset Management LLC now owns 58,001 shares of the construction company's stock valued at $4,004,000 after purchasing an additional 658 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Trex by 121.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,554 shares of the construction company's stock valued at $1,350,000 after purchasing an additional 10,712 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Stock Up 0.6 %

Trex stock traded up $0.33 during trading hours on Thursday, reaching $58.15. 287,245 shares of the company's stock were exchanged, compared to its average volume of 1,325,145. The firm's 50 day simple moving average is $57.30 and its 200 day simple moving average is $66.05. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $94.00. The firm has a market capitalization of $6.23 billion, a PE ratio of 26.56, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on TREX shares. Barclays dropped their price target on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. DA Davidson reiterated a "neutral" rating and issued a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. UBS Group dropped their price target on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group dropped their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $77.18.

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.