New York State Common Retirement Fund Has $22.94 Million Stake in Trex Company, Inc. (NYSE:TREX)

New York State Common Retirement Fund trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,097 shares of the construction company’s stock after selling 27,434 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Trex worth $22,941,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Shell Asset Management Co. raised its position in shares of Trex by 0.5% during the third quarter. Shell Asset Management Co. now owns 35,605 shares of the construction company’s stock worth $2,194,000 after purchasing an additional 163 shares during the period. Martin Capital Advisors LLP grew its holdings in Trex by 0.7% during the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock worth $2,130,000 after buying an additional 168 shares in the last quarter. Fifth Third Bancorp grew its holdings in Trex by 13.2% during the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock worth $129,000 after buying an additional 181 shares in the last quarter. Inspire Investing LLC grew its holdings in Trex by 4.2% during the third quarter. Inspire Investing LLC now owns 4,960 shares of the construction company’s stock worth $306,000 after buying an additional 201 shares in the last quarter. Finally, Mitchell Capital Management Co. grew its holdings in Trex by 0.4% during the third quarter. Mitchell Capital Management Co. now owns 64,386 shares of the construction company’s stock worth $3,968,000 after buying an additional 234 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TREX shares. Benchmark upped their price target on Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Robert W. Baird upped their price target on Trex from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Truist Financial upped their price target on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Barclays upped their price objective on Trex from $86.00 to $93.00 and gave the company an “underweight” rating in a research note on Thursday, April 4th. Finally, UBS Group upped their price objective on Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price of $88.72.

Trex Stock Performance

TREX stock opened at $90.57 on Friday. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 2.00 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91. The stock has a fifty day moving average of $94.05 and a 200-day moving average of $80.35.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $195.75 million for the quarter, compared to analysts’ expectations of $193.40 million. Trex had a return on equity of 31.26% and a net margin of 18.76%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities analysts predict that Trex Company, Inc. will post 2.22 EPS for the current year.

Trex Company 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.