State of New Jersey Common Pension Fund D Has $2.82 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,983 shares of the construction company’s stock after selling 21,856 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Trex were worth $2,815,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in shares of Trex during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Trex during the fourth quarter valued at $25,000. Sunbelt Securities Inc. boosted its stake in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares in the last quarter. Rise Advisors LLC grew its holdings in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Trex during the 2nd quarter worth about $31,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on TREX shares. JPMorgan Chase & Co. decreased their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group decreased their price target on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trex has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Price Performance

NYSE:TREX opened at $68.00 on Thursday. The business’s 50-day simple moving average is $70.04 and its 200-day simple moving average is $81.82. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a market capitalization of $7.39 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Trex Company, Inc. will post 2.03 earnings per share for the current year.

Trex Company 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.