Polar Asset Management Partners Inc. Sells 136,100 Shares of Trex Company, Inc. (NYSE:TREX)

Polar Asset Management Partners Inc. trimmed its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,300 shares of the construction company's stock after selling 136,100 shares during the period. Polar Asset Management Partners Inc. owned 0.16% of Trex worth $11,963,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. grew its position in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after purchasing an additional 473 shares during the last quarter. Huntington National Bank increased its position in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares during the period. V Square Quantitative Management LLC lifted its position in Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after purchasing an additional 202 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Trex by 33.4% in the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock valued at $60,000 after acquiring an additional 218 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the transaction, the senior vice president now directly owns 27,527 shares in the company, 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, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value 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. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,286 shares of company stock valued at $323,003 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Trex Stock Up 0.3%

TREX stock traded up $0.21 during midday trading on Tuesday, hitting $60.80. 184,026 shares of the company traded hands, compared to its average volume of 1,342,013. The business has a 50 day simple moving average of $57.55 and a 200-day simple moving average of $65.46. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $88.87. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released 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. The company had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TREX. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their price target on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. DA Davidson reaffirmed a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. Jefferies Financial Group cut their target price 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, Barclays decreased their target price on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. 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 MarketBeat.com, the company currently has an average 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.