Anomaly Capital Management LP Boosts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Anomaly Capital Management LP grew its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 228.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,512,783 shares of the construction company's stock after purchasing an additional 1,051,888 shares during the period. Trex makes up 3.1% of Anomaly Capital Management LP's portfolio, making the stock its 11th biggest holding. Anomaly Capital Management LP owned 1.41% of Trex worth $104,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in Trex by 8.8% in the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company's stock worth $9,961,000 after purchasing an additional 12,085 shares during the last quarter. Virtu Financial LLC lifted its holdings in Trex by 29.2% in the 3rd quarter. Virtu Financial LLC now owns 12,566 shares of the construction company's stock worth $837,000 after purchasing an additional 2,838 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Trex during the third quarter worth approximately $30,000. Tidal Investments LLC grew its holdings in Trex by 73.1% during the third quarter. Tidal Investments LLC now owns 14,836 shares of the construction company's stock valued at $988,000 after purchasing an additional 6,263 shares during the last quarter. Finally, American Trust raised its position in shares of Trex by 7.9% in the third quarter. American Trust now owns 3,367 shares of the construction company's stock valued at $224,000 after purchasing an additional 246 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Performance

Shares of Trex stock traded up $2.49 during midday trading on Thursday, hitting $59.16. 943,549 shares of the company traded hands, compared to its average volume of 1,318,780. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.51 and a beta of 1.62. The firm's fifty day moving average price is $57.85 and its 200-day moving average price is $66.23. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Equities research analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TREX. JPMorgan Chase & Co. dropped their price target on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Barclays decreased their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their target price on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group cut their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reissued a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Trex presently has an average rating of "Hold" and a consensus price target of $77.18.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company's stock.

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.