Squarepoint Ops LLC Sells 471,592 Shares of Trex Company, Inc. $TREX

Squarepoint Ops LLC decreased its position in Trex Company, Inc. (NYSE:TREX) by 92.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 38,988 shares of the construction company’s stock after selling 471,592 shares during the period. Squarepoint Ops LLC’s holdings in Trex were worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Trex by 26.6% during the first quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock valued at $4,710,000 after purchasing an additional 27,189 shares during the period. BlackRock Inc. bought a new position in Trex in the second quarter worth $525,081,000. Wesbanco Bank Inc. bought a new position in Trex in the first quarter worth $932,000. Havemeyer Place LP acquired a new stake in Trex during the fourth quarter worth $1,417,000. Finally, EFG International AG acquired a new stake in Trex during the second quarter worth $7,197,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TREX. Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the company a “hold” rating in a research note on Tuesday, August 11th. Truist Financial lifted their target price on shares of Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, May 18th. Citigroup reissued a “neutral” rating and issued a $52.00 price target (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Trex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.30.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the sale, the senior vice president directly owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. The trade was a 3.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by corporate insiders.

Trex Trading Down 2.8%

Shares of NYSE TREX opened at $43.67 on Tuesday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $61.07. The company has a market cap of $4.54 billion, a PE ratio of 25.99, a P/E/G ratio of 3.10 and a beta of 1.47. The company has a 50-day moving average of $45.86 and a two-hundred day moving average of $42.65.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. As a group, equities research analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current year.

About Trex

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company’s composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.