81,240 Shares in Trex Company, Inc. (NYSE:TREX) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new position in Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,240 shares of the construction company's stock, valued at approximately $5,608,000. Cinctive Capital Management LP owned 0.08% of Trex at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Trex in the 3rd quarter worth $30,000. Mather Group LLC. grew 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 raised its position in shares of Trex by 1,212.8% during the fourth 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 during the last quarter. Huntington National Bank lifted its holdings in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Trex during the fourth quarter worth $41,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on 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 price objective on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price for the company. Finally, StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.00.

Trex Price Performance

Shares of NYSE:TREX traded down $2.61 on Monday, reaching $52.42. The company's stock had a trading volume of 748,375 shares, compared to its average volume of 1,637,411. The stock's 50-day moving average is $62.97 and its two-hundred day moving average is $67.65. Trex Company, Inc. has a 52-week low of $50.35 and a 52-week high of $97.69. The stock has a market capitalization of $5.62 billion, a P/E ratio of 23.93, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Equities analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

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.