Masterton Capital Management LP Cuts Stock Position in Trex Company, Inc. (NYSE:TREX)

Masterton Capital Management LP trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 26.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,083 shares of the construction company’s stock after selling 26,117 shares during the period. Trex comprises 2.9% of Masterton Capital Management LP’s investment portfolio, making the stock its 15th largest position. Masterton Capital Management LP owned 0.07% of Trex worth $5,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TREX. Northern Trust Corp boosted its position in Trex by 20.0% during the 4th quarter. Northern Trust Corp now owns 954,821 shares of the construction company’s stock valued at $65,911,000 after buying an additional 159,315 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Trex by 13.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 598,972 shares of the construction company’s stock valued at $41,347,000 after buying an additional 69,826 shares during the period. Voya Investment Management LLC raised its position in shares of Trex by 51.2% in the 4th quarter. Voya Investment Management LLC now owns 319,351 shares of the construction company’s stock worth $22,045,000 after acquiring an additional 108,142 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Trex during the fourth quarter valued at approximately $29,269,000. Finally, Pinebridge Investments L.P. lifted its position in Trex by 3.0% during the fourth quarter. Pinebridge Investments L.P. now owns 26,609 shares of the construction company’s stock valued at $1,837,000 after buying an additional 784 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Transactions at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Trex Trading Down 0.4 %

Shares of NYSE TREX opened at $57.50 on Tuesday. The stock has a market capitalization of $6.17 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The stock’s fifty day simple moving average is $57.49 and its two-hundred day simple moving average is $66.16. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $94.00.

Trex (NYSE:TREX) last posted its quarterly earnings data 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 firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target for the company. BMO Capital Markets raised Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Thursday, April 17th. Jefferies Financial Group decreased their price objective 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. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.18.

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.