California State Teachers Retirement System Has $4.71 Million Stock Holdings in Trex Company, Inc. $TREX

Key Points

• California State Teachers Retirement System increased its Trex stake by 26.6% in the first quarter, holding 129,321 shares worth approximately $4.71 million. Institutional investors collectively own 95.96% of Trex’s outstanding stock.
• Trex reported quarterly revenue of $418.02 million, up 7.8% year over year and above expectations, but earnings per share of $0.62 narrowly missed the $0.63 consensus estimate. Analysts expect full-year EPS of $1.78.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and a $49.20 price target, while Truist and UBS maintained “Buy” ratings with targets of $60 and $61, respectively.

California State Teachers Retirement System grew its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,321 shares of the construction company's stock after purchasing an additional 27,189 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Trex worth $4,710,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TREX. Gabelli Funds LLC boosted its stake in Trex by 73.6% during the 1st quarter. Gabelli Funds LLC now owns 86,805 shares of the construction company's stock valued at $3,161,000 after purchasing an additional 36,805 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Trex by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 145,965 shares of the construction company's stock valued at $5,316,000 after buying an additional 1,475 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Trex by 77.6% in the first quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company's stock worth $77,000 after buying an additional 926 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Trex by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 649,458 shares of the construction company's stock valued at $23,653,000 after acquiring an additional 5,246 shares during the period. Finally, Ascentis Independent Advisors bought a new position in shares of Trex in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Price Performance

Shares of TREX stock opened at $49.17 on Friday. The company has a market cap of $5.11 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.31 and a beta of 1.48. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The stock's 50 day simple moving average is $45.50 and its two-hundred day simple moving average is $41.94.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.01). Trex had a return on equity of 18.03% and a net margin of 14.68%.The business had revenue of $418.02 million during the quarter, compared to analysts' expectations of $415.71 million. During the same quarter in the previous year, the business earned $0.71 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that Trex Company, Inc. will post 1.78 EPS for the current year.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the transaction, the senior vice president owned 36,631 shares of the company's stock, valued at approximately $1,831,550. This represents a 3.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of Trex from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Wall Street Zen raised Trex from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Stifel Nicolaus boosted their price target on shares of Trex from $44.00 to $47.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Trex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, UBS Group reaffirmed a "buy" rating and set a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $49.20.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source