BNP Paribas Financial Markets Sells 120,635 Shares of Trex Company, Inc. (NYSE:TREX)

BNP Paribas Financial Markets lowered its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,952 shares of the construction company's stock after selling 120,635 shares during the period. BNP Paribas Financial Markets' holdings in Trex were worth $1,999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TREX. Alliancebernstein L.P. lifted its stake in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock valued at $317,505,000 after acquiring an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 acquiring an additional 2,578,734 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company's stock valued at $135,834,000 after acquiring an additional 17,405 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Trex in the 4th quarter valued at about $110,414,000. Institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TREX shares. DA Davidson reissued a "neutral" rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered 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. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target for the company in a research report on Thursday, April 17th. Finally, Stephens lowered their price target on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. 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 company's stock. Based on data from MarketBeat, Trex currently has an average rating of "Hold" and a consensus target price of $76.65.

Trex Stock Performance

Shares of Trex stock traded down $0.19 during midday trading on Tuesday, hitting $60.40. The company had a trading volume of 615,050 shares, compared to its average volume of 1,346,129. The stock has a market capitalization of $6.48 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.51 and a beta of 1.62. The company has a 50 day moving average of $57.68 and a 200 day moving average of $65.42. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $88.84.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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%. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. Equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 5,286 shares of company stock valued at $323,003. 0.71% of the stock is owned by corporate insiders.

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.