State of Alaska Department of Revenue Sells 420 Shares of Trex Company, Inc. (NYSE:TREX)

State of Alaska Department of Revenue lowered its position in Trex Company, Inc. (NYSE:TREX) by 3.3% during the 4th quarter, Holdings Channel reports. The fund owned 12,216 shares of the construction company’s stock after selling 420 shares during the period. State of Alaska Department of Revenue’s holdings in Trex were worth $843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TREX. Mather Group LLC. raised its stake in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Trex in the fourth quarter worth approximately $231,000. Conestoga Capital Advisors LLC raised its stake in shares of Trex by 0.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after purchasing an additional 17,405 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Trex in the fourth quarter worth approximately $207,000. Finally, DAVENPORT & Co LLC raised its stake in shares of Trex by 17.2% in the fourth quarter. DAVENPORT & Co LLC now owns 397,733 shares of the construction company’s stock worth $27,534,000 after purchasing an additional 58,280 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Price Performance

NYSE:TREX opened at $67.86 on Friday. The business has a fifty day simple moving average of $71.81 and a two-hundred day simple moving average of $69.37. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company has a market capitalization of $7.27 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.82 and a beta of 1.51.

Analyst Ratings Changes

Several brokerages have recently commented on TREX. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. BMO Capital Markets increased their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Citigroup decreased their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and an average price target of $79.81.

Trex 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.