Quantinno Capital Management LP Grows Position in Trex Company, Inc. (NYSE:TREX)

Quantinno Capital Management LP grew its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,973 shares of the construction company's stock after acquiring an additional 5,096 shares during the quarter. Quantinno Capital Management LP's holdings in Trex were worth $2,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in Trex during the 4th quarter worth approximately $981,000. Millennium Management LLC grew its stake in Trex by 93.1% during the 4th quarter. Millennium Management LLC now owns 484,708 shares of the construction company's stock worth $33,459,000 after buying an additional 233,737 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Trex by 3.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 886,097 shares of the construction company's stock worth $61,167,000 after buying an additional 32,477 shares during the last quarter. Focus Partners Wealth purchased a new position in Trex during the 4th quarter worth approximately $522,000. Finally, Eisler Capital Management Ltd. purchased a new position in Trex during the 4th quarter worth approximately $3,214,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Performance

TREX stock traded down $0.22 during midday trading on Friday, hitting $56.96. 898,605 shares of the stock were exchanged, compared to its average volume of 1,356,840. The stock's 50-day moving average price is $57.65 and its 200-day moving average price is $65.17. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $88.84.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex's revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

TREX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. Stephens decreased their price objective on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. UBS Group decreased their price objective on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Barclays decreased their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. 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. According to MarketBeat, Trex currently has a consensus rating of "Hold" and a consensus price target of $76.65.

Insider Buying and Selling

In related news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now directly owns 24,569 shares of the company's stock, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 directly owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,286 shares of company stock valued at $323,003. 0.71% of the stock is owned by insiders.

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.