California State Teachers Retirement System Sells 5,480 Shares of Trex Company, Inc. (NYSE:TREX)

California State Teachers Retirement System trimmed its position in shares of Trex Company, Inc. (NYSE:TREXFree Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,912 shares of the construction company’s stock after selling 5,480 shares during the period. California State Teachers Retirement System owned 0.11% of Trex worth $9,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P bought a new position in Trex in the 3rd quarter worth approximately $27,000. Contravisory Investment Management Inc. bought a new position in shares of Trex during the fourth quarter worth $28,000. Headinvest LLC purchased a new position in Trex during the third quarter valued at $29,000. Vestor Capital LLC bought a new stake in Trex in the 4th quarter valued at $47,000. Finally, Covestor Ltd lifted its stake in Trex by 623.8% in the 3rd quarter. Covestor Ltd now owns 941 shares of the construction company’s stock worth $58,000 after purchasing an additional 811 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 1.9 %

NYSE TREX opened at $80.13 on Friday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company’s 50-day moving average price is $89.48 and its 200-day moving average price is $86.61. The stock has a market cap of $8.71 billion, a PE ratio of 34.39, a PEG ratio of 1.79 and a beta of 1.56.

Trex (NYSE:TREXGet Free Report) last issued its earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TREX. DA Davidson lifted their target price on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Stifel Nicolaus increased their target price on Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group increased their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus target price of $89.47.

Get Our Latest Stock Analysis on TREX

Insider Activity at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Trex Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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