New York State Teachers Retirement System Decreases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

New York State Teachers Retirement System reduced its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,954 shares of the construction company's stock after selling 6,500 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Trex worth $6,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Trex by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock valued at $728,000 after purchasing an additional 330 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after buying an additional 969 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Trex by 26.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company's stock valued at $4,125,000 after acquiring an additional 14,670 shares during the last quarter. Blue Trust Inc. grew its position in Trex by 55.9% in the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after acquiring an additional 408 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Trex by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company's stock worth $63,965,000 after acquiring an additional 24,554 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trex

In related news, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the transaction, the senior vice president directly owned 24,569 shares in the company, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president owned 27,527 shares of the company's stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Trex Stock Down 2.2%

Shares of NYSE:TREX traded down $1.28 during trading on Monday, reaching $57.66. 1,432,119 shares of the company's stock traded hands, compared to its average volume of 1,442,967. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $86.56. The company has a 50-day simple moving average of $57.15 and a 200-day simple moving average of $61.17. The firm has a market cap of $6.18 billion, a PE ratio of 31.68, a P/E/G ratio of 2.49 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. The company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

TREX has been the topic of a number of research reports. Stephens decreased their target price on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Barclays reduced their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Benchmark reissued a "buy" rating and set a $80.00 price target on shares of Trex in a research note on Monday, May 12th. Citigroup reduced their price target on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $76.65.

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.