Trex Company, Inc. (NYSE:TREX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 75.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,546 shares of the construction company's stock after selling 20,439 shares during the period. Y Intercept Hong Kong Ltd's holdings in Trex were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in shares of Trex during the 2nd quarter valued at about $31,000. UMB Bank n.a. lifted its stake in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the 2nd quarter worth approximately $44,000. Quarry LP increased its position in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Trex by 51.4% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the construction company's stock valued at $56,000 after purchasing an additional 256 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Trex stock traded down $0.74 during midday trading on Tuesday, reaching $76.86. The company had a trading volume of 921,754 shares, compared to its average volume of 1,040,744. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a market capitalization of $8.23 billion, a P/E ratio of 35.07, a P/E/G ratio of 3.50 and a beta of 1.49. The firm's fifty day simple moving average is $70.78 and its 200-day simple moving average is $71.89.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company's revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on TREX shares. Barclays decreased their target price on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research report on Tuesday, October 29th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. DA Davidson raised their target price on shares of Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $79.94.

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.