Trex Company, Inc. (NYSE:TREX) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,349 shares of the construction company's stock after purchasing an additional 4,600 shares during the period. New York State Common Retirement Fund owned about 0.17% of Trex worth $10,536,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Trex by 137.7% in the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after acquiring an additional 965 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Trex in the 1st quarter worth $911,000. State of Alaska Department of Revenue increased its holdings in shares of Trex by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock worth $728,000 after purchasing an additional 330 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after purchasing an additional 969 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Trex by 26.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company's stock worth $4,125,000 after purchasing an additional 14,670 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president owned 27,527 shares of the company's stock, valued at $1,659,052.29. The trade was a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president directly owned 24,569 shares of the company's stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Trex Trading Down 0.5%

NYSE:TREX traded down $0.31 during mid-day trading on Friday, reaching $61.84. 1,055,137 shares of the stock were exchanged, compared to its average volume of 1,463,064. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $86.56. The business has a fifty day moving average price of $57.78 and a 200 day moving average price of $60.70. The firm has a market capitalization of $6.63 billion, a PE ratio of 33.98, a PEG ratio of 2.62 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data 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. Trex had a net margin of 17.69% and a return on equity of 22.78%. The company had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the prior year, the company posted $0.82 EPS. The business's revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on TREX shares. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. Robert W. Baird raised Trex from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. Baird R W upgraded Trex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective on the stock. Finally, Loop Capital upped their target price on shares of Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.88.

Trex 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.