Bayesian Capital Management LP Makes New Investment in Trex Company, Inc. (NYSE:TREX)

Bayesian Capital Management LP purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,300 shares of the construction company's stock, valued at approximately $573,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new position in Trex in the 3rd quarter valued at $30,000. Mather Group LLC. boosted its holdings in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC increased its position in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank raised its holdings in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Trex during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Activity

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

Trex Trading Down 3.2 %

TREX stock opened at $58.12 on Wednesday. The stock has a 50-day moving average price of $57.10 and a two-hundred day moving average price of $65.90. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $93.96. The stock has a market cap of $6.23 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the subject of several analyst reports. Barclays lowered their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Thursday, April 17th. UBS Group reduced their price target on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Finally, Citigroup cut their target price on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $77.18.

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.

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