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 fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,300 shares of the construction company's stock after selling 136,100 shares during the period. Polar Asset Management Partners Inc. owned about 0.16% of Trex worth $11,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC raised its position in Trex by 8.8% during the third quarter. Barclays PLC now owns 149,623 shares of the construction company's stock worth $9,961,000 after acquiring an additional 12,085 shares during the last quarter. UMB Bank n.a. boosted its stake 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 purchasing an additional 218 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Trex by 6.8% during the fourth quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company's stock worth $231,000 after buying an additional 213 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Trex in the fourth quarter valued at approximately $247,000. Finally, SG Americas Securities LLC lifted its stake in shares of 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 buying an additional 4,597 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of TREX stock traded down $0.80 during trading hours on Friday, hitting $55.62. 519,719 shares of the company were exchanged, compared to its average volume of 1,362,513. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a one year low of $49.01 and a one year high of $87.43. The business's 50-day simple moving average is $57.39 and its two-hundred day simple moving average is $64.73.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.82 EPS. The business's revenue was down 9.0% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a report on Thursday, April 17th. Barclays reduced their target price on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. UBS Group dropped their price target on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a research note on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Two 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 currently has a consensus rating of "Hold" and a consensus price target of $76.65.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were 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. This represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction dated 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 sale, the senior vice president now owns 24,569 shares in the company, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.