BNP Paribas Financial Markets Sells 120,635 Shares of Trex Company, Inc. (NYSE:TREX)

BNP Paribas Financial Markets decreased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 80.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,952 shares of the construction company’s stock after selling 120,635 shares during the quarter. BNP Paribas Financial Markets’ holdings in Trex were worth $1,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank lifted its holdings in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after buying an additional 393 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after buying an additional 202 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Trex by 33.4% during the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company’s stock valued at $60,000 after buying an additional 218 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 1.3%

NYSE:TREX opened at $60.80 on Friday. The company has a market cap of $6.52 billion, a PE ratio of 27.76, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $88.87. The company’s 50 day moving average is $57.44 and its two-hundred day moving average is $65.56.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president now directly owns 27,527 shares in the company, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,286 shares of company stock valued at $323,003. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stephens cut their target price on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Barclays cut their target price on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Citigroup cut their target price on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, UBS Group cut their target price on shares of Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.65.

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.