Squarepoint Ops LLC Sells 104,180 Shares of Trex Company, Inc. (NYSE:TREX)

Squarepoint Ops LLC lessened its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 65.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,218 shares of the construction company's stock after selling 104,180 shares during the quarter. Squarepoint Ops LLC owned approximately 0.05% of Trex worth $3,812,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. boosted its stake in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after acquiring an additional 473 shares during the last quarter. Huntington National Bank boosted its stake in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after buying an additional 202 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Trex during the 4th quarter worth approximately $122,000. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TREX. Citigroup dropped their target price on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Thursday, April 17th. Two 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 stock presently has a consensus rating of "Hold" and a consensus price target of $76.65.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction dated Monday, May 12th. The shares were 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 $1,502,885.73. The trade was a 8.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business'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 sale, 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 position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

Trex Trading Down 1.0%

Shares of TREX traded down $0.55 during midday trading on Friday, reaching $55.87. The stock had a trading volume of 1,246,692 shares, compared to its average volume of 1,370,908. The firm has a 50 day simple moving average of $57.27 and a 200-day simple moving average of $64.56. Trex Company, Inc. has a one year low of $49.01 and a one year high of $87.43. The firm has a market cap of $5.99 billion, a PE ratio of 25.51, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $329.11 million. During the same quarter last year, the firm posted $0.82 EPS. The company's quarterly revenue was down 9.0% on a year-over-year basis. As a group, research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.