D. E. Shaw & Co. Inc. Sells 379,910 Shares of Trex Company, Inc. (NYSE:TREX)

D. E. Shaw & Co. Inc. decreased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 50.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 372,567 shares of the construction company's stock after selling 379,910 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.35% of Trex worth $25,718,000 at the end of the most recent quarter.

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

Trex Price Performance

Trex stock traded down $0.33 during trading hours on Thursday, reaching $60.04. The company had a trading volume of 980,299 shares, compared to its average volume of 1,345,854. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $92.02. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.51 and a beta of 1.62. The company has a 50-day moving average price of $57.19 and a 200 day moving average price of $65.71.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results 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 firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same period in the previous year, the firm earned $0.82 earnings per share. The business's revenue was down 9.0% compared to the same quarter last year. As a group, research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity

In related news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president now directly owns 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction that occurred 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 sale, the director now owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

TREX has been the topic of several recent analyst reports. Jefferies Financial Group lowered their price target on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Thursday, April 17th. Truist Financial lowered their price target on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, DA Davidson reissued a "neutral" rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.65.

Trex Company 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.