Night Squared LP Decreases Holdings in Trex Company, Inc. $TREX

Night Squared LP trimmed its holdings in Trex Company, Inc. (NYSE:TREX) by 70.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 22,281 shares of the construction company’s stock after selling 52,453 shares during the quarter. Night Squared LP’s holdings in Trex were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TREX. Price T Rowe Associates Inc. MD lifted its stake in Trex by 132.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company’s stock worth $424,007,000 after purchasing an additional 4,163,014 shares during the last quarter. Norges Bank bought a new stake in shares of Trex in the 2nd quarter valued at about $54,795,000. American Century Companies Inc. boosted its holdings in Trex by 66.1% during the 1st quarter. American Century Companies Inc. now owns 1,972,125 shares of the construction company’s stock valued at $114,580,000 after acquiring an additional 784,820 shares during the period. Wellington Management Group LLP bought a new position in Trex during the 1st quarter worth approximately $39,646,000. Finally, Royal Bank of Canada increased its stake in Trex by 534.0% in the 1st quarter. Royal Bank of Canada now owns 668,280 shares of the construction company’s stock worth $38,828,000 after purchasing an additional 562,877 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insider Activity at Trex

In other Trex news, CFO Prithvi Gandhi acquired 15,000 shares of the stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the purchase, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TREX. Vertical Research cut shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, November 5th. Zacks Research cut shares of Trex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. DA Davidson set a $45.00 target price on shares of Trex and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Benchmark lowered their price target on Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $36.00 price objective (down from $67.00) on shares of Trex in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.37.

Trex Trading Down 0.8%

Shares of TREX stock opened at $34.06 on Wednesday. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $80.74. The stock has a market capitalization of $3.65 billion, a P/E ratio of 18.51 and a beta of 1.58. The firm’s 50 day moving average is $41.87 and its 200 day moving average is $53.21.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). Trex had a net margin of 16.76% and a return on equity of 21.90%. The firm had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. During the same period in the previous year, the company earned $0.37 earnings per share. Trex’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Trex 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.