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

Balyasny Asset Management L.P. raised its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 86.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,029,034 shares of the construction company's stock after purchasing an additional 939,960 shares during the quarter. Balyasny Asset Management L.P. owned 1.89% of Trex worth $140,064,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock worth $216,400,000 after acquiring an additional 2,578,734 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Trex during the fourth quarter valued at approximately $110,414,000. Anomaly Capital Management LP boosted its stake in Trex by 228.2% during the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock worth $104,427,000 after buying an additional 1,051,888 shares during the period. Finally, Norges Bank purchased a new stake in shares of Trex in the fourth quarter valued at $54,084,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TREX. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Barclays reduced their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $77.18.

Insider Buying and Selling

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade 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.

Trex Trading Up 0.3 %

Trex stock traded up $0.15 during mid-day trading on Friday, hitting $58.45. The company had a trading volume of 1,501,083 shares, compared to its average volume of 1,346,292. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 2.51 and a beta of 1.62. The company's fifty day moving average is $56.97 and its 200-day moving average is $65.80. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $93.96.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.