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

New York State Common Retirement Fund decreased its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 9.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,097 shares of the construction company's stock after selling 27,434 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Trex worth $22,941,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its stake in Trex by 97.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,239,723 shares of the construction company's stock worth $76,404,000 after purchasing an additional 612,832 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Trex by 910.6% during the 3rd quarter. Fred Alger Management LLC now owns 447,159 shares of the construction company's stock valued at $27,558,000 after buying an additional 402,913 shares during the period. Invesco Ltd. raised its position in shares of Trex by 69.3% during the 3rd quarter. Invesco Ltd. now owns 921,821 shares of the construction company's stock valued at $56,812,000 after buying an additional 377,377 shares during the period. FMR LLC raised its position in shares of Trex by 128.5% during the 3rd quarter. FMR LLC now owns 565,951 shares of the construction company's stock valued at $34,880,000 after buying an additional 318,300 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in shares of Trex by 7.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,441,866 shares of the construction company's stock valued at $212,122,000 after buying an additional 240,850 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Performance

Shares of NYSE:TREX traded up $1.12 during trading on Friday, hitting $90.53. The company's stock had a trading volume of 359,735 shares, compared to its average volume of 562,394. The business has a 50 day moving average price of $94.04 and a two-hundred day moving average price of $80.57. The company has a market capitalization of $9.83 billion, a PE ratio of 47.90, a P/E/G ratio of 2.00 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $195.75 million during the quarter, compared to the consensus estimate of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities analysts expect that Trex Company, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TREX. JPMorgan Chase & Co. lifted their price target on shares of Trex from $79.00 to $93.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. Benchmark lifted their price target on shares of Trex from $85.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, March 1st. DA Davidson lifted their price target on shares of Trex from $80.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, February 27th. Robert W. Baird lifted their target price on shares of Trex from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on shares of Trex from $90.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.72.

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.