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

Polar Asset Management Partners Inc. decreased its position in shares of Trex Company, Inc. (NYSE:TREX) by 44.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 173,300 shares of the construction company’s stock after selling 136,100 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.16% of Trex worth $11,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TREX. Barclays PLC grew its stake 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 acquiring an additional 12,085 shares during the period. Claro Advisors LLC bought a new position in Trex in the 4th quarter worth about $220,000. Park Avenue Securities LLC boosted its stake in Trex by 26.6% in the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,566 shares during the period. Avanza Fonder AB bought a new position in Trex in the 4th quarter worth about $64,000. Finally, UMB Bank n.a. boosted its stake in Trex by 33.4% in the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company’s stock worth $60,000 after purchasing an additional 218 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 1.9%

Shares of TREX stock opened at $60.49 on Thursday. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.51 and a beta of 1.62. The business’s fifty day moving average is $57.19 and its 200 day moving average is $65.71. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $92.02.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for 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%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. Equities research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated 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 owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was 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 in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a research report on Monday. Truist Financial dropped their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Citigroup decreased their price objective on Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price 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.