Louisiana State Employees Retirement System Sells 600 Shares of Trex Company, Inc. (NYSE:TREX)

Louisiana State Employees Retirement System reduced its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,100 shares of the construction company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Trex were worth $2,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Trex during the 2nd quarter worth $19,475,000. Motley Fool Asset Management LLC increased its position in Trex by 287.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock valued at $32,400,000 after purchasing an additional 240,989 shares during the period. Federated Hermes Inc. raised its holdings in shares of Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock valued at $57,375,000 after purchasing an additional 217,767 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Trex in the 2nd quarter worth approximately $15,635,000. Finally, Blair William & Co. IL boosted its stake in shares of Trex by 19.4% during the first quarter. Blair William & Co. IL now owns 1,137,225 shares of the construction company’s stock valued at $113,438,000 after purchasing an additional 184,631 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Price Performance

NYSE TREX opened at $70.63 on Wednesday. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.45 and a beta of 1.50. The stock’s fifty day moving average price is $65.23 and its 200 day moving average price is $75.72. Trex Company, Inc. has a 1 year low of $54.57 and a 1 year high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period in the prior year, the company earned $0.57 earnings per share. The company’s revenue was down 23.1% on a year-over-year basis. Research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group lowered their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Finally, BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.94.

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.