Caxton Associates LLP Takes $1.34 Million Position in Trex Company, Inc. $TREX

Caxton Associates LLP acquired a new position in shares of Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 24,666 shares of the construction company’s stock, valued at approximately $1,341,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new stake in Trex in the second quarter valued at about $31,000. Parallel Advisors LLC boosted its stake in shares of Trex by 28.4% in the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after buying an additional 232 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Trex during the second quarter worth $60,000. Brooklyn Investment Group raised its position in Trex by 35,733.3% in the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company’s stock worth $62,000 after acquiring an additional 1,072 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Trex by 16.8% during the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on TREX. Jefferies Financial Group upgraded shares of Trex from a “hold” rating to a “buy” rating and upped their target price for the stock from $39.00 to $42.00 in a research report on Monday. Citigroup decreased their target price on Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday. Stifel Nicolaus restated a “hold” rating and issued a $35.00 price target (down previously from $61.00) on shares of Trex in a research report on Monday, November 10th. William Blair cut shares of Trex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Finally, Truist Financial dropped their price objective on shares of Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.74.

Insider Transactions at Trex

In related news, CFO Prithvi Gandhi purchased 15,000 shares of Trex stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at approximately $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.74% of the company’s stock.

Trex Trading Down 0.6%

Shares of TREX stock opened at $34.89 on Tuesday. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $78.38. The stock has a 50 day moving average of $40.50 and a two-hundred day moving average of $52.60. The company has a market capitalization of $3.74 billion, a P/E ratio of 18.96 and a beta of 1.58.

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). The company had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. Trex had a return on equity of 21.90% and a net margin of 16.76%.The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.