Tidal Investments LLC Reduces Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Tidal Investments LLC decreased its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 41.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,650 shares of the construction company's stock after selling 6,186 shares during the quarter. Tidal Investments LLC's holdings in Trex were worth $597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after purchasing an additional 523,113 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock worth $216,400,000 after purchasing an additional 2,578,734 shares during the period. Bamco Inc. NY boosted its holdings in shares of Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after purchasing an additional 126,441 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Trex by 86.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after purchasing an additional 939,960 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction 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 transaction, the senior vice president now directly owns 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president now owns 24,569 shares in the company, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.71% of the company's stock.

Trex Stock Performance

NYSE TREX traded down $2.23 on Monday, reaching $53.64. 2,316,763 shares of the stock traded hands, compared to its average volume of 1,374,680. The company has a fifty day moving average price of $57.12 and a 200-day moving average price of $64.41. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $87.43.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. During the same period last year, the business posted $0.82 EPS. The business's revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TREX. Truist Financial decreased their price target on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target for the company. BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target for the company in a research note on Thursday, April 17th. Wall Street Zen lowered Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Finally, DA Davidson reissued a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Trex currently has a consensus rating of "Hold" and an average target price of $76.65.

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.