Trex Company, Inc. (NYSE:TREX) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in Trex Company, Inc. (NYSE:TREX) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,622 shares of the construction company’s stock after acquiring an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Trex were worth $2,656,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TREX. Eagle Asset Management Inc. lifted its position in Trex by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after buying an additional 119 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Trex by 16.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock valued at $71,000 after buying an additional 124 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Trex by 6.9% during the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock valued at $178,000 after purchasing an additional 138 shares during the period. Martin Capital Advisors LLP raised its stake in shares of Trex by 0.7% during the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock valued at $2,130,000 after purchasing an additional 168 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Trex by 13.2% during the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock valued at $129,000 after purchasing an additional 181 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. DA Davidson dropped their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price objective on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, Barclays lifted their price objective on shares of Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Trex currently has an average rating of “Hold” and an average price target of $89.06.

Trex Price Performance

TREX stock opened at $70.96 on Thursday. Trex Company, Inc. has a 1-year low of $53.59 and a 1-year high of $101.91. The firm has a fifty day moving average price of $84.83 and a two-hundred day moving average price of $87.51. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.59 and a beta of 1.50.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, analysts expect that Trex Company, Inc. will post 2.26 EPS for the current fiscal year.

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.