Arrowstreet Capital Limited Partnership Grows Position in Trex Company, Inc. (NYSE:TREX)

Arrowstreet Capital Limited Partnership increased its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 123.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,303 shares of the construction company's stock after acquiring an additional 211,406 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.36% of Trex worth $26,459,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TREX. Pictet Asset Management Holding SA raised its stake in shares of Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after purchasing an additional 969 shares during the last quarter. Norges Bank bought a new stake in Trex during the fourth quarter worth $54,084,000. Summitry LLC purchased a new stake in Trex in the 4th quarter valued at $221,000. LPL Financial LLC lifted its stake in Trex by 28.4% during the 4th quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after acquiring an additional 28,176 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Trex during the 4th quarter worth $1,519,000. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TREX shares. DA Davidson reissued a "neutral" rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped 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. Truist Financial reduced their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Citigroup dropped their price target on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Trex currently has an average rating of "Hold" and a consensus price target of $79.00.

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Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

Trex Stock Performance

Trex stock traded down $1.90 during mid-day trading on Monday, reaching $53.12. The company's stock had a trading volume of 2,168,581 shares, compared to its average volume of 1,266,484. The firm's fifty day moving average price is $62.55 and its two-hundred day moving average price is $67.53. Trex Company, Inc. has a 12-month low of $50.35 and a 12-month high of $97.69. The company has a market capitalization of $5.70 billion, a P/E ratio of 24.25, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. On average, research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

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.