Trex Company, Inc. (NYSE:TREX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in Trex Company, Inc. (NYSE:TREX) by 27.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,749 shares of the construction company’s stock after selling 65,862 shares during the period. New York State Common Retirement Fund owned 0.16% of Trex worth $12,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AustralianSuper Pty Ltd acquired a new stake in shares of Trex during the fourth quarter worth $110,414,000. Wasatch Advisors LP grew its stake in Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Trex by 6,093.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after acquiring an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. grew its position in Trex by 100.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after purchasing an additional 511,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

NYSE TREX opened at $61.72 on Tuesday. The firm’s 50 day moving average price is $69.83 and its two-hundred day moving average price is $68.73. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last issued its quarterly earnings results 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 return on equity of 28.89% and a net margin of 20.23%. On average, research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. DA Davidson increased their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Citigroup lowered their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird upped their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Trex has an average 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.