Strs Ohio Lowers Stake in Trex Company, Inc. (NYSE:TREX)

Strs Ohio reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,373 shares of the construction company’s stock after selling 1,743 shares during the quarter. Strs Ohio’s holdings in Trex were worth $4,749,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Liontrust Investment Partners LLP lifted its stake in Trex by 2,324.6% in the fourth quarter. Liontrust Investment Partners LLP now owns 1,180,800 shares of the construction company’s stock worth $49,983,000 after acquiring an additional 1,132,100 shares during the period. BlackRock Inc. lifted its stake in Trex by 8.4% in the first quarter. BlackRock Inc. now owns 13,421,758 shares of the construction company’s stock worth $653,237,000 after acquiring an additional 1,034,669 shares during the period. Norges Bank purchased a new stake in Trex in the fourth quarter worth about $35,763,000. Alliancebernstein L.P. lifted its stake in Trex by 19.4% in the second quarter. Alliancebernstein L.P. now owns 4,777,034 shares of the construction company’s stock worth $313,182,000 after acquiring an additional 776,165 shares during the period. Finally, Millennium Management LLC lifted its stake in Trex by 389.9% in the fourth quarter. Millennium Management LLC now owns 892,913 shares of the construction company’s stock worth $37,797,000 after acquiring an additional 710,648 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Up 0.2 %

NYSE:TREX opened at $87.96 on Friday. The company has a market cap of $9.55 billion, a PE ratio of 46.54, a P/E/G ratio of 2.02 and a beta of 1.60. Trex Company, Inc. has a twelve month low of $51.03 and a twelve month high of $101.91. The company’s 50 day moving average is $94.25 and its two-hundred day moving average is $79.32.

Trex (NYSE:TREX) last released its earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $195.75 million for the quarter, compared to the consensus estimate of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. Trex’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. Benchmark upped their price objective on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. UBS Group increased their price target on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their price objective on shares of Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, DA Davidson increased their target price on shares of Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.72.

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.