Caxton Associates LLP Makes New Investment in Trex Company, Inc. $TREX

Caxton Associates LLP acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,666 shares of the construction company’s stock, valued at approximately $1,341,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC increased its stake in Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after acquiring an additional 177 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Trex by 4.1% during the second quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock valued at $259,000 after acquiring an additional 189 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Trex by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the construction company’s stock valued at $1,642,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Trex by 0.8% during the 2nd quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock valued at $1,404,000 after purchasing an additional 200 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

NYSE:TREX opened at $34.89 on Tuesday. The company has a 50-day moving average of $40.50 and a 200 day moving average of $52.60. The firm has a market cap of $3.74 billion, a PE ratio of 18.96 and a beta of 1.58. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $78.38.

Trex (NYSE:TREX) last released its earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Trex had a return on equity of 21.90% and a net margin of 16.76%.The company had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. During the same quarter last year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TREX shares. The Goldman Sachs Group set a $63.00 price target on Trex and gave the company a “buy” rating in a research report on Wednesday, November 5th. DA Davidson set a $45.00 price objective on Trex and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Bank of America reissued an “underperform” rating and set a $36.00 target price (down from $67.00) on shares of Trex in a research report on Wednesday, November 5th. Vertical Research lowered shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research report on Wednesday, November 5th. Finally, Citigroup dropped their target price on shares of Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.74.

Insider Buying and Selling

In related news, CFO Prithvi Gandhi bought 15,000 shares of the stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the acquisition, the chief financial officer directly owned 30,664 shares in the company, valued at approximately $978,794.88. This trade represents a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

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.