Squarepoint Ops LLC Has $1.95 Million Stock Position in Trex Company, Inc. $TREX

Key Points

• Squarepoint Ops LLC slashed its Trex position by 92.4% in the second quarter, selling 471,592 shares and retaining 38,988 shares valued at approximately $1.95 million. Institutional investors collectively own 95.96% of Trex.
• Analyst sentiment is mixed but leans positive: one analyst rates Trex a Strong Buy, 10 rate it Buy, nine rate it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $49.30.
• Trex reported quarterly revenue of $418.02 million, up 7.8% year over year, but EPS of $0.62 narrowly missed estimates. The stock recently traded at $43.67, while two senior vice presidents disclosed share sales totaling about $122,574.

Squarepoint Ops LLC cut its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 92.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,988 shares of the construction company's stock after selling 471,592 shares during the quarter. Squarepoint Ops LLC's holdings in Trex were worth $1,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Clearstead Trust LLC purchased a new stake in shares of Trex in the fourth quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new position in Trex during the first quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex during the fourth quarter valued at approximately $47,000. Versant Capital Management Inc acquired a new position in Trex in the 2nd quarter valued at approximately $58,000. Finally, Covestor Ltd increased its stake in Trex by 1,365.4% in the 4th quarter. Covestor Ltd now owns 1,905 shares of the construction company's stock valued at $67,000 after buying an additional 1,775 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TREX shares. UBS Group reissued a "buy" rating and set a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Citigroup reissued a "neutral" rating and set a $52.00 price objective (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Truist Financial raised their price target on Trex from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $51.00 price target (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $49.30.

Insider Buying and Selling

In other news, SVP Amy M. Fernandez sold 1,050 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares of the company's stock, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.93% of the company's stock.

Trex Price Performance

Trex stock opened at $43.67 on Tuesday. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 3.10 and a beta of 1.47. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.07. The firm has a fifty day moving average price of $45.86 and a two-hundred day moving average price of $42.65.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts expect that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Trex Company Profile

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company's composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.

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