New York State Common Retirement Fund Sells 27,434 Shares of Trex Company, Inc. (NYSE:TREX)

New York State Common Retirement Fund cut its holdings in Trex Company, Inc. (NYSE:TREX) by 9.0% during the 4th quarter, Holdings Channel reports. The fund owned 277,097 shares of the construction company’s stock after selling 27,434 shares during the period. New York State Common Retirement Fund’s holdings in Trex were worth $22,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Martin Capital Advisors LLP increased its stake in shares of Trex by 0.7% in the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 168 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Trex by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,331 shares of the construction company’s stock worth $2,097,000 after purchasing an additional 1,837 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Trex in the fourth quarter worth $2,525,000. WCM Investment Management LLC increased its stake in shares of Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after purchasing an additional 21,486 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Trex by 14.8% in the fourth quarter. Cerity Partners LLC now owns 395,143 shares of the construction company’s stock worth $32,714,000 after purchasing an additional 51,079 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TREX shares. JPMorgan Chase & Co. increased their price objective on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. DA Davidson raised their target price on shares of Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Barclays raised their target price on shares of Trex from $86.00 to $93.00 and gave the company an “underweight” rating in a research note on Thursday, April 4th. Truist Financial raised their target price on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus raised their target price on shares of Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and an average price target of $88.72.

Trex Trading Up 1.3 %

Trex stock opened at $90.57 on Friday. The firm has a 50-day moving average price of $94.05 and a 200-day moving average price of $80.35. The firm has a market capitalization of $9.84 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60. Trex Company, Inc. has a 12-month low of $51.03 and a 12-month high of $101.91.

Trex (NYSE:TREX) last released its earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. As a group, sell-side analysts predict that Trex Company, Inc. will post 2.22 earnings per share for the current fiscal year.

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.