State of New Jersey Common Pension Fund D Has $2.44 Million Stock Holdings in Trex Company, Inc. $TREX

Key Points

• State of New Jersey Common Pension Fund D boosted its Trex stake by 76.8% in Q4 to 69,509 shares worth $2.44 million, representing about 0.06% of the company.
• Institutional investors own 95.96% of Trex, with major managers — notably Wellington (+86.8%) and Impax (+93.0%) — significantly increasing their positions.
• Analysts' consensus is a Hold with a $48 average target (10 Buy / 10 Hold / 3 Sell), though recent research ranges from Barclays' $35 underweight to DA Davidson's $51 buy.

State of New Jersey Common Pension Fund D boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 76.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,509 shares of the construction company's stock after acquiring an additional 30,191 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Trex worth $2,438,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Alliancebernstein L.P. grew its holdings in Trex by 1.9% during the 3rd quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company's stock worth $389,795,000 after acquiring an additional 142,215 shares during the period. American Century Companies Inc. grew its holdings in shares of Trex by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company's stock valued at $113,233,000 after buying an additional 53,554 shares during the period. Wellington Management Group LLP grew its holdings in shares of Trex by 86.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company's stock valued at $102,002,000 after buying an additional 917,448 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Trex by 93.0% in the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company's stock valued at $99,354,000 after buying an additional 932,247 shares during the period. Finally, Madison Asset Management LLC grew its holdings in shares of Trex by 1.2% in the 3rd quarter. Madison Asset Management LLC now owns 1,893,081 shares of the construction company's stock valued at $97,815,000 after buying an additional 22,027 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Analysts Set New Price Targets

TREX has been the subject of several research analyst reports. Barclays decreased their price target on shares of Trex from $39.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 8th. Wall Street Zen raised shares of Trex from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. DA Davidson boosted their price target on shares of Trex from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. Wolfe Research raised shares of Trex from a "peer perform" rating to an "outperform" rating and set a $47.00 price target for the company in a report on Wednesday, January 7th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $54.00 price target on shares of Trex in a report on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $48.00.

Trex Trading Up 6.2%

Shares of NYSE TREX opened at $39.91 on Thursday. The firm has a market cap of $4.15 billion, a PE ratio of 22.55, a PEG ratio of 8.58 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The company has a fifty day moving average price of $38.91 and a 200 day moving average price of $39.17.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The firm had revenue of $161.13 million during the quarter, compared to analyst estimates of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Equities research analysts forecast that Trex Company, Inc. will post 1.63 EPS for the current year.

Trex Company Profile

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.

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