Teacher Retirement System of Texas Invests $911,000 in Trex Company, Inc. (NYSE:TREX)

Teacher Retirement System of Texas acquired a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,679 shares of the construction company's stock, valued at approximately $911,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank boosted its position in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the period. Blue Trust Inc. boosted its position 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. GAMMA Investing LLC boosted its position in Trex by 137.7% during the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after purchasing an additional 965 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Trex during the 4th quarter worth $122,000. Finally, Bessemer Group Inc. boosted its position in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after purchasing an additional 170 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Stephens decreased their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research report on Thursday, April 17th. Barclays decreased their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trex has a consensus rating of "Hold" and an average target price of $74.88.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the firm's stock in a transaction 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 transaction, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president owned 24,569 shares in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Trex Stock Performance

Trex stock opened at $62.72 on Tuesday. The company has a 50 day moving average price of $57.42 and a 200 day moving average price of $60.91. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $86.56. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.70 and a beta of 1.50.

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

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.

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