Arrowstreet Capital Limited Partnership Has $26.46 Million Stake in Trex Company, Inc. (NYSE:TREX)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 123.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 383,303 shares of the construction company’s stock after acquiring an additional 211,406 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Trex were worth $26,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its position in shares of Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock valued at $1,004,000 after acquiring an additional 969 shares in the last quarter. Norges Bank bought a new position in Trex during the fourth quarter worth about $54,084,000. Summitry LLC acquired a new stake in Trex during the fourth quarter valued at approximately $221,000. LPL Financial LLC grew its stake in shares of Trex by 28.4% in the 4th quarter. LPL Financial LLC now owns 127,457 shares of the construction company’s stock valued at $8,798,000 after purchasing an additional 28,176 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Trex in the 4th quarter worth approximately $1,519,000. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

TREX has been the topic of several recent analyst reports. Citigroup decreased their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group cut their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.00.

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.71% of the company’s stock.

Trex Stock Performance

NYSE:TREX opened at $60.00 on Thursday. The stock’s fifty day moving average price is $63.73 and its two-hundred day moving average price is $67.82. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $97.69.

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

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.