Woodline Partners LP Has $21.57 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Woodline Partners LP boosted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,491 shares of the construction company's stock after acquiring an additional 124,070 shares during the period. Woodline Partners LP owned 0.29% of Trex worth $21,571,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Trex by 8.8% during the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company's stock worth $9,961,000 after purchasing an additional 12,085 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Trex by 26.6% during the fourth quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock worth $514,000 after buying an additional 1,566 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Trex in the fourth quarter valued at approximately $64,000. UMB Bank n.a. grew its stake in shares of Trex by 33.4% in the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after acquiring an additional 218 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in Trex by 6.8% during the fourth quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company's stock worth $231,000 after acquiring an additional 213 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

NYSE TREX opened at $60.40 on Wednesday. The stock's 50 day simple moving average is $57.68 and its 200 day simple moving average is $65.42. Trex Company, Inc. has a one year low of $49.01 and a one year high of $88.84. The firm has a market cap of $6.48 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $144,728.22. Following the completion of the sale, the senior vice president now owns 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president now owns 27,527 shares in the company, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,286 shares of company stock valued at $323,003. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of research analyst reports. Stephens cut their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Bank of America cut their target price on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group decreased their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research note 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 price objective for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Trex currently has a consensus rating of "Hold" and an average price target 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.

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