Polymer Capital Management US LLC Purchases New Position in Trex Company, Inc. (NYSE:TREX)

Polymer Capital Management US LLC acquired a new position in Trex Company, Inc. (NYSE:TREX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,900 shares of the construction company’s stock, valued at approximately $2,133,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TREX. Federated Hermes Inc. boosted its holdings in Trex by 38.5% during the fourth quarter. Federated Hermes Inc. now owns 1,250,017 shares of the construction company’s stock worth $86,289,000 after buying an additional 347,526 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Trex by 11.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company’s stock worth $157,000 after acquiring an additional 243 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Trex by 112.5% during the 4th quarter. Russell Investments Group Ltd. now owns 209,896 shares of the construction company’s stock worth $14,489,000 after acquiring an additional 111,116 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Trex by 8.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 327,247 shares of the construction company’s stock valued at $22,590,000 after acquiring an additional 25,540 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Trex in the 4th quarter valued at about $122,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, 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 SEC, which is available at the SEC website. 0.71% of the stock is owned by insiders.

Trex Trading Down 0.8 %

NYSE TREX opened at $54.96 on Monday. The stock has a fifty day simple moving average of $62.97 and a 200-day simple moving average of $67.65. The stock has a market cap of $5.89 billion, a PE ratio of 25.10, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a twelve month low of $50.35 and a twelve month high of $97.69.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on TREX shares. Bank of America dropped their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, DA Davidson reissued a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $79.00.

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.