Polar Asset Management Partners Inc. Reduces Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Polar Asset Management Partners Inc. lessened its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 44.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 173,300 shares of the construction company's stock after selling 136,100 shares during the quarter. Polar Asset Management Partners Inc. owned 0.16% of Trex worth $11,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Xponance Inc. raised its position in Trex by 0.7% during the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after acquiring an additional 143 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock valued at $213,000 after buying an additional 147 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock valued at $1,102,000 after buying an additional 148 shares during the last quarter. Harrington Investments INC raised its holdings in shares of Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after purchasing an additional 159 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of 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 purchasing an additional 170 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial cut their price objective on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. 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. Benchmark reiterated a "buy" rating and issued a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. Citigroup dropped their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Jefferies Financial Group dropped their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $76.65.

Trex Stock Performance

NYSE TREX traded down $2.26 during trading on Wednesday, reaching $56.07. 1,231,381 shares of the company traded hands, compared to its average volume of 1,363,495. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $87.43. The stock's 50 day moving average price is $57.50 and its two-hundred day moving average price is $64.85.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data 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. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the firm earned $0.82 EPS. Trex's quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trex 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction 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 transaction, the senior vice president now owns 27,527 shares in the company, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock worth $323,003 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

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.