Bayesian Capital Management LP Decreases Holdings in Trex Company, Inc. (NYSE:TREX)

Bayesian Capital Management LP trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 67.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,584 shares of the construction company’s stock after selling 5,301 shares during the period. Bayesian Capital Management LP’s holdings in Trex were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of Trex in the 1st quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Trex in the 4th quarter valued at about $25,000. Sunbelt Securities Inc. lifted its holdings in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. Rise Advisors LLC lifted its holdings in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of Trex in the 4th quarter valued at about $47,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now 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 is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group reduced their target price on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Robert W. Baird dropped their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. DA Davidson dropped their target price on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Citigroup dropped their target price on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Trex in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.76.

Trex Stock Performance

TREX stock opened at $83.63 on Thursday. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The stock’s 50 day moving average price is $80.72 and its 200 day moving average price is $87.26. The firm has a market cap of $9.09 billion, a P/E ratio of 35.89, a PEG ratio of 2.02 and a beta of 1.50.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. During the same quarter in the prior year, the company earned $0.38 EPS. Trex’s revenue was up 56.5% on a year-over-year basis. On average, research analysts predict that Trex Company, Inc. will post 2.26 earnings per share for the current year.

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.