Man Group plc Sells 39,289 Shares of Trex Company, Inc. (NYSE:TREX)

Man Group plc trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 54.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,184 shares of the construction company's stock after selling 39,289 shares during the period. Man Group plc's holdings in Trex were worth $2,291,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TREX. Xponance Inc. lifted its stake in Trex by 0.7% in the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after acquiring an additional 143 shares in the last quarter. Principal Securities Inc. lifted its stake in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after acquiring an additional 147 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after acquiring an additional 148 shares in the last quarter. Harrington Investments INC lifted its stake in Trex by 1.8% in the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after acquiring an additional 159 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after acquiring an additional 170 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of NYSE TREX traded up $1.22 during mid-day trading on Tuesday, reaching $58.14. 737,884 shares of the company traded hands, compared to its average volume of 1,358,148. The stock has a market cap of $6.23 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The company's fifty day moving average is $57.60 and its two-hundred day moving average is $64.96. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $88.84.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating 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 quarter in the prior year, the firm posted $0.82 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. Research analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,286 shares of company stock worth $323,003 in the last 90 days. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TREX shares. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of Trex in a research report on Monday, May 12th. Stephens dropped their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Wall Street Zen lowered Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Finally, UBS Group dropped their target price on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Trex presently has a consensus rating of "Hold" and an average price target of $76.65.

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.