Trex Company, Inc. (NYSE:TREX) Shares Sold by Polar Asset Management Partners Inc.

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

A number of other hedge funds have also recently modified their holdings of TREX. Putney Financial Group LLC purchased a new position in Trex during the 4th quarter valued at $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Trex by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company's stock worth $25,816,000 after purchasing an additional 11,845 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Trex by 65.8% during the fourth quarter. Woodline Partners LP now owns 312,491 shares of the construction company's stock valued at $21,571,000 after purchasing an additional 124,070 shares during the period. Vident Advisory LLC grew its holdings in shares of Trex by 2.2% in the fourth quarter. Vident Advisory LLC now owns 47,099 shares of the construction company's stock worth $3,251,000 after purchasing an additional 996 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Trex by 23.8% in the 4th quarter. Rafferty Asset Management LLC now owns 33,564 shares of the construction company's stock worth $2,317,000 after buying an additional 6,447 shares during the period. Institutional investors own 95.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TREX. Stephens lowered their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. 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 report on Tuesday, February 25th. UBS Group reduced their price objective on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their target price on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Barclays dropped their price target on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $76.65.

Trex Price Performance

Shares of TREX stock traded up $1.38 during mid-day trading on Tuesday, hitting $58.30. 1,421,465 shares of the stock traded hands, compared to its average volume of 1,360,744. The stock's fifty day moving average is $57.57 and its two-hundred day moving average is $64.91. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $88.84. The stock has a market cap of $6.25 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results 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 net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. Trex's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president now owns 24,569 shares of the company's stock, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,286 shares of company stock worth $323,003. Insiders own 0.71% of the company's stock.

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.