Man Group plc Sells 39,289 Shares of Trex Company, Inc. (NYSE:TREX)

Man Group plc lessened its stake in Trex Company, Inc. (NYSE:TREX) by 54.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,184 shares of the construction company’s stock after selling 39,289 shares during the period. Man Group plc’s holdings in Trex were worth $2,291,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Xponance Inc. grew its holdings in Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 143 shares during the period. Principal Securities Inc. grew its holdings in Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after acquiring an additional 147 shares during the period. Pacer Advisors Inc. grew its holdings in Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 148 shares during the period. Harrington Investments INC grew its holdings in Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after acquiring an additional 159 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock worth $140,000 after acquiring an additional 170 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.5%

TREX opened at $57.15 on Friday. The stock has a market capitalization of $6.13 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $88.84. The firm’s fifty day simple moving average is $57.67 and its 200 day simple moving average is $65.27.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to analysts’ expectations of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. On average, equities research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on TREX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. UBS Group lowered their target price on shares of Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Stephens decreased their price target on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Finally, Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus price target of $76.65.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president now directly owns 24,569 shares of the company’s stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president now directly owns 27,527 shares in the company, valued at $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,286 shares of company stock valued at $323,003 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

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.