Arrowstreet Capital Limited Partnership Decreases Stock Holdings in Trex Company, Inc. $TREX

Arrowstreet Capital Limited Partnership lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 48.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,283 shares of the construction company’s stock after selling 119,354 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Trex were worth $6,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TREX. Red Spruce Capital LLC boosted its position in shares of Trex by 276.5% during the 2nd quarter. Red Spruce Capital LLC now owns 56,973 shares of the construction company’s stock worth $3,098,000 after acquiring an additional 41,841 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Trex by 24.0% during the first quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock worth $23,003,000 after purchasing an additional 76,562 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Trex in the 2nd quarter valued at approximately $3,015,000. Advantage Alpha Capital Partners LP lifted its holdings in Trex by 169.2% in the second quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock valued at $4,079,000 after acquiring an additional 47,143 shares during the period. Finally, Pembroke Management LTD grew its position in Trex by 23.7% during the second quarter. Pembroke Management LTD now owns 427,238 shares of the construction company’s stock worth $23,233,000 after buying an additional 81,970 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

NYSE TREX opened at $35.40 on Thursday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 19.24 and a beta of 1.58. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $80.74. The company’s fifty day moving average price is $41.54 and its two-hundred day moving average price is $53.09.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Trex had a net margin of 16.76% and a return on equity of 21.90%. The company had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. During the same quarter last year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, CFO Prithvi Gandhi bought 15,000 shares of the stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the purchase, the chief financial officer directly owned 30,664 shares in the company, valued at approximately $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TREX has been the subject of several research reports. B. Riley reaffirmed a “buy” rating and set a $57.00 price target (down previously from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Benchmark cut their price objective on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Vertical Research downgraded Trex from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Wednesday, November 5th. The Goldman Sachs Group set a $63.00 target price on shares of Trex and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $35.00 price target (down previously from $61.00) on shares of Trex in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.37.

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.