Trex Company, Inc. (NYSE:TREX) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 65.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 55,218 shares of the construction company's stock after selling 104,180 shares during the period. Squarepoint Ops LLC owned 0.05% of Trex worth $3,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atomi Financial Group Inc. purchased a new stake in shares of Trex during the fourth quarter worth $247,000. Pictet Asset Management Holding SA boosted its stake in Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after purchasing an additional 969 shares during the period. SG Americas Securities LLC grew its holdings 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 worth $424,000 after buying an additional 4,597 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Trex by 10.6% in the 4th quarter. Stephens Inc. AR now owns 6,294 shares of the construction company's stock valued at $434,000 after purchasing an additional 601 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Trex by 2.2% in the 4th quarter. Rhumbline Advisers now owns 328,954 shares of the construction company's stock valued at $22,708,000 after buying an additional 7,163 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Shares of NYSE:TREX traded down $2.26 during mid-day 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 firm has a market cap of $6.01 billion, a PE ratio of 25.60, a PEG ratio of 2.51 and a beta of 1.62. The company's 50 day moving average price is $57.50 and its 200-day moving average price is $64.85. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $87.43.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. Trex had a return on equity of 28.89% and a net margin of 20.23%. 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 previous year, the business earned $0.82 EPS. Trex's revenue was down 9.0% compared to the same quarter last year. On average, research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. DA Davidson reaffirmed a "neutral" rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Jefferies Financial Group lowered their target price on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Wall Street Zen cut Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Finally, Barclays cut their price target on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $76.65.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the sale, the senior vice president now directly owns 27,527 shares of the company's stock, valued at $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,286 shares of company stock valued at $323,003. 0.71% of the stock is owned by insiders.

Trex 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.