Quantbot Technologies LP Lowers Stock Position in Trex Company, Inc. (NYSE:TREX)

Quantbot Technologies LP lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,270 shares of the construction company’s stock after selling 6,671 shares during the quarter. Quantbot Technologies LP’s holdings in Trex were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Trex during the 4th quarter valued at approximately $25,000. Mather Group LLC. acquired a new stake in shares of Trex during the 1st quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new stake in shares of Trex during the 4th quarter valued at approximately $28,000. Headinvest LLC acquired a new stake in shares of Trex during the 3rd quarter valued at approximately $29,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 4.1 %

Shares of NYSE TREX traded up $3.18 during trading on Friday, hitting $81.56. 1,629,750 shares of the company traded hands, compared to its average volume of 843,604. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The company has a 50-day moving average price of $82.64 and a 200-day moving average price of $87.10. The firm has a market capitalization of $8.87 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.64 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. During the same period in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 56.5% compared to the same quarter last year. Research analysts predict that Trex Company, Inc. will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TREX has been the subject of several research reports. Barclays cut their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday. Citigroup cut their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday. DA Davidson cut their price objective on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Loop Capital cut their price objective on Trex from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and an average price target of $88.76.

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.