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

Polar Asset Management Partners Inc. lowered its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 SEC filing.

Several other large investors have also recently modified their holdings of TREX. Barclays PLC boosted its position in Trex by 8.8% during the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company's stock valued at $9,961,000 after acquiring an additional 12,085 shares in the last quarter. UMB Bank n.a. lifted its position in Trex by 33.4% during the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock valued at $60,000 after purchasing an additional 218 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of 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 purchasing an additional 213 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Trex in the fourth quarter worth $247,000. Finally, SG Americas Securities LLC grew its stake in Trex by 298.5% during the fourth quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company's stock valued at $424,000 after acquiring an additional 4,597 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Performance

TREX stock traded up $0.30 during trading on Thursday, reaching $56.40. The company had a trading volume of 1,192,865 shares, compared to its average volume of 1,362,813. The firm has a 50-day simple moving average of $57.50 and a 200-day simple moving average of $64.85. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $87.43.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. Sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Citigroup reduced their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. Finally, BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Thursday, April 17th. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $76.65.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm's 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 transaction, the senior vice president now directly owns 27,527 shares of the company's stock, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,286 shares of company stock valued at $323,003. 0.71% of the stock is owned by 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.