New York State Teachers Retirement System Sells 6,500 Shares of Trex Company, Inc. (NYSE:TREX)

New York State Teachers Retirement System cut its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,954 shares of the construction company's stock after selling 6,500 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Trex worth $6,330,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

TREX has been the subject of several research analyst reports. Citigroup cut their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Benchmark restated a "buy" rating and set a $80.00 target price on shares of Trex in a research report on Monday, May 12th. Barclays dropped their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Stephens cut 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. Finally, UBS Group reduced their price target on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.65.

Trex Stock Down 1.6%

TREX stock traded down $0.94 during mid-day trading on Monday, reaching $58.00. The company had a trading volume of 115,109 shares, compared to its average volume of 1,437,811. Trex Company, Inc. has a one year low of $49.01 and a one year high of $86.56. The stock has a market capitalization of $6.22 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.49 and a beta of 1.50. The stock's 50-day simple moving average is $57.15 and its two-hundred day simple moving average is $61.26.

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

Insider Activity

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

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.