Versor Investments LP Purchases Shares of 4,975 Trex Company, Inc. (NYSE:TREX)

Versor Investments LP acquired a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,975 shares of the construction company's stock, valued at approximately $343,000.

A number of other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Trex in the fourth quarter valued at $2,116,000. Oppenheimer Asset Management Inc. raised its position in shares of Trex by 24.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 68,713 shares of the construction company's stock worth $4,743,000 after acquiring an additional 13,384 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Trex by 10.3% during the fourth quarter. Impax Asset Management Group plc now owns 907,109 shares of the construction company's stock worth $62,618,000 after purchasing an additional 84,748 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Trex by 16.0% in the fourth quarter. First Horizon Advisors Inc. now owns 2,648 shares of the construction company's stock valued at $183,000 after purchasing an additional 366 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Trex by 10.3% in the fourth quarter. Alberta Investment Management Corp now owns 7,320 shares of the construction company's stock valued at $505,000 after purchasing an additional 685 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business's 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. StockNews.com raised Trex from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Finally, Benchmark reaffirmed a "buy" rating and set a $80.00 price target on shares of Trex in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Trex presently has a consensus rating of "Hold" and an average target price of $78.38.

Trex Stock Down 3.6 %

Shares of Trex stock traded down $2.20 during trading on Monday, hitting $59.49. 1,354,659 shares of the company were exchanged, compared to its average volume of 1,357,276. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $100.77. The firm has a 50 day moving average price of $68.96 and a 200 day moving average price of $68.76. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.51 and a beta of 1.51.

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