Millennium Management LLC Grows Position in Trex Company, Inc. (NYSE:TREX)

Millennium Management LLC boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 93.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 484,708 shares of the construction company's stock after buying an additional 233,737 shares during the period. Millennium Management LLC owned approximately 0.45% of Trex worth $33,459,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in Trex by 8.8% in the third quarter. Barclays PLC now owns 149,623 shares of the construction company's stock valued at $9,961,000 after purchasing an additional 12,085 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Trex by 26.6% in the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock worth $514,000 after buying an additional 1,566 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Trex during the 4th quarter valued at $64,000. UMB Bank n.a. lifted its holdings in shares of Trex by 33.4% during the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after acquiring an additional 218 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Trex by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company's stock worth $231,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Trex Price Performance

TREX traded up $0.31 during trading on Thursday, hitting $57.15. 1,774,833 shares of the stock traded hands, compared to its average volume of 1,352,597. The firm has a market capitalization of $6.13 billion, a P/E ratio of 26.10, a price-to-earnings-growth 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 $88.84. The firm has a 50-day moving average of $57.68 and a 200 day moving average of $65.36.

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 the consensus estimate of $0.58 by $0.02. The firm had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the sale, the senior vice president now owns 27,527 shares in the company, valued at $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Melkeya Mcduffie sold 1,420 shares of the company's 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 completion of the transaction, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock valued at $323,003 in the last 90 days. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TREX shares. 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 research report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. DA Davidson reiterated a "neutral" rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Finally, Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.