Polymer Capital Management US LLC Invests $2.13 Million in Trex Company, Inc. (NYSE:TREX)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Trex in the 3rd quarter valued at about $30,000. Mather Group LLC. increased its stake in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Huntington National Bank lifted its stake in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after acquiring an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Trex during the 4th quarter worth approximately $41,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Trex Stock Performance

Shares of NYSE:TREX opened at $54.96 on Monday. Trex Company, Inc. has a one year low of $50.35 and a one year high of $97.69. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.51 and a beta of 1.62. The company has a 50-day simple moving average of $62.97 and a 200-day simple moving average of $67.65.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. As a group, research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TREX shares. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Jefferies Financial Group lowered their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and an average target price 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.