Eisler Capital Management Ltd. Acquires Shares of 47,089 Trex Company, Inc. (NYSE:TREX)

Eisler Capital Management Ltd. bought a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,089 shares of the construction company's stock, valued at approximately $3,214,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex during the third quarter worth $30,000. Mather Group LLC. lifted its stake in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Trex in the fourth quarter worth approximately $41,000. 95.96% of the stock is owned by institutional investors and hedge funds.

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 transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the 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 $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Jefferies Financial Group reduced their target price on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. 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. Citigroup reduced their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Bank of America dropped their target price on Trex from $85.00 to $79.00 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 assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of "Hold" and an average price target of $76.65.

Trex Trading Down 1.3%

TREX traded down $0.83 during trading on Wednesday, hitting $60.84. The stock had a trading volume of 712,161 shares, compared to its average volume of 1,343,808. The firm has a market cap of $6.52 billion, a PE ratio of 27.78, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $92.02. The company has a 50 day simple moving average of $57.11 and a 200-day simple moving average of $65.75.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $329.11 million. During the same period in the previous year, the company posted $0.82 earnings per share. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal 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.