Trex Company, Inc. (NYSE:TREX) Stock Position Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in Trex Company, Inc. (NYSE:TREX) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,742 shares of the construction company’s stock after purchasing an additional 2,759 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Trex were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Trex during the second quarter valued at approximately $44,000. Quarry LP raised its holdings in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after buying an additional 370 shares during the period. Finally, UMB Bank n.a. boosted its stake in Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Performance

NYSE:TREX opened at $72.64 on Thursday. The company has a market capitalization of $7.78 billion, a P/E ratio of 33.17, a P/E/G ratio of 3.29 and a beta of 1.49. The stock’s 50 day moving average price is $67.06 and its 200 day moving average price is $74.36. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TREX. Stifel Nicolaus cut their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. B. Riley reduced their target price on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird increased their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial decreased their target price on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.94.

About Trex

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.