30,900 Shares in Trex Company, Inc. (NYSE:TREX) Purchased by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,900 shares of the construction company's stock, valued at approximately $2,133,000.

A number of other large investors also recently bought and sold shares of TREX. Alliancebernstein L.P. boosted its stake in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. State Street Corp boosted its position in shares of Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company's stock valued at $211,954,000 after buying an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company's stock worth $135,834,000 after buying an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its stake in Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company's stock valued at $124,766,000 after acquiring an additional 35,039 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Trex during the 4th quarter valued at about $110,414,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TREX has been the subject of several research reports. DA Davidson reissued a "neutral" rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price on the stock. UBS Group cut their price target on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $77.18.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company's stock.

Trex Price Performance

Shares of NYSE:TREX traded up $0.02 during trading on Friday, hitting $54.96. 2,135,919 shares of the company's stock were exchanged, compared to its average volume of 1,288,281. The business's 50-day simple moving average is $60.36 and its 200 day simple moving average is $66.94. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $94.00. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 25.10, 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 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 firm had revenue of $167.63 million for the quarter, compared to analysts' expectations of $160.54 million. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Trex 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.