Trex Company Inc (TREX) Position Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Trex Company Inc (NYSE:TREX) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,460 shares of the construction company’s stock after selling 4,457 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Trex worth $3,644,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Trex by 352.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after buying an additional 1,118 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Trex in the 3rd quarter valued at about $202,000. Riverhead Capital Management LLC boosted its position in Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after buying an additional 1,098 shares during the period. Everence Capital Management Inc. purchased a new stake in Trex in the 3rd quarter valued at about $212,000. Finally, Victory Capital Management Inc. boosted its position in Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after buying an additional 282 shares during the period. 88.92% of the stock is owned by hedge funds and other institutional investors.

Shares of Trex Company Inc (NYSE:TREX) opened at $108.77 on Thursday. Trex Company Inc has a twelve month low of $61.57 and a twelve month high of $118.65. The company has a market cap of $3,140.00, a PE ratio of 35.31 and a beta of 2.43.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The business had revenue of $140.19 million during the quarter, compared to analyst estimates of $125.30 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. equities analysts forecast that Trex Company Inc will post 3.11 earnings per share for the current year.

Several equities research analysts have issued reports on TREX shares. Zacks Investment Research cut shares of Trex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley reissued a “neutral” rating and issued a $96.00 price objective (up from $80.00) on shares of Trex in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Stifel Nicolaus restated a “hold” rating and issued a $89.00 price target on shares of Trex in a report on Wednesday, November 1st. Finally, SunTrust Banks restated a “hold” rating and issued a $95.00 price target on shares of Trex in a report on Wednesday, November 1st. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Trex currently has a consensus rating of “Hold” and a consensus target price of $90.00.

In related news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total transaction of $227,690.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jay T. Scripter sold 1,116 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total transaction of $121,186.44. Following the transaction, the vice president now owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,014 shares of company stock valued at $764,529. 0.95% of the stock is currently owned by company insiders.

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Trex Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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