Trex Company, Inc. (NYSE:TREX) Position Reduced by Alpine Peaks Capital LP

Alpine Peaks Capital LP lowered its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,875 shares of the construction company's stock after selling 27,200 shares during the quarter. Trex accounts for approximately 3.9% of Alpine Peaks Capital LP's holdings, making the stock its 17th biggest holding. Alpine Peaks Capital LP owned 0.06% of Trex worth $4,754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TREX. Alliancebernstein L.P. raised its position in Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock worth $216,400,000 after purchasing an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Trex during the 4th quarter worth approximately $110,414,000. Anomaly Capital Management LP lifted its stake in Trex by 228.2% in the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock valued at $104,427,000 after buying an additional 1,051,888 shares in the last quarter. Finally, Norges Bank acquired a new stake in Trex during the 4th quarter valued at $54,084,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Transactions at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TREX. Barclays reduced their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. DA Davidson reaffirmed a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Jefferies Financial Group decreased their price objective on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup reduced their target price on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Two equities 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $77.18.

Trex Price Performance

NYSE TREX traded up $0.15 during trading hours on Tuesday, hitting $57.59. The company had a trading volume of 238,064 shares, compared to its average volume of 1,319,095. The firm's 50 day moving average is $57.49 and its 200 day moving average is $66.16. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS 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.