Trex Company, Inc. (NYSE:TREX) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,659 shares of the construction company’s stock after selling 320 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Trex were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares in the last quarter. American Century Companies Inc. raised its holdings in Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after acquiring an additional 122,658 shares in the last quarter. TD Asset Management Inc raised its holdings in Trex by 516.8% in the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after acquiring an additional 1,341,419 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Trex by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after acquiring an additional 92,563 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TREX. Citigroup cut their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays cut their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Truist Financial cut their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus cut their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, BMO Capital Markets dropped their target price on shares of Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $80.88.

Trex Stock Performance

Trex stock opened at $66.40 on Thursday. The company has a 50-day simple moving average of $68.76 and a 200-day simple moving average of $80.92. The firm has a market capitalization of $7.22 billion, a P/E ratio of 28.50, a P/E/G ratio of 2.37 and a beta of 1.50. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.03 earnings per share for the current 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.