New York State Teachers Retirement System Sells 6,500 Shares of Trex Company, Inc. (NYSE:TREX)

New York State Teachers Retirement System trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,954 shares of the construction company’s stock after selling 6,500 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Trex worth $6,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TREX. Alliancebernstein L.P. grew its position in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. Anomaly Capital Management LP grew its position in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock worth $104,427,000 after acquiring an additional 1,051,888 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Trex by 86.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock worth $140,064,000 after acquiring an additional 939,960 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Trex by 87.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,916,134 shares of the construction company’s stock worth $132,271,000 after buying an additional 893,675 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets upgraded Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Thursday, April 17th. Citigroup dropped their price objective on Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price objective for the company. Barclays dropped their price objective on Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.65.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president owned 27,527 shares of the company’s stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president directly owned 24,569 shares of the company’s stock, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Trex Stock Down 0.6%

TREX opened at $58.94 on Friday. The stock has a market cap of $6.32 billion, a PE ratio of 32.38, a PEG ratio of 2.49 and a beta of 1.50. The business has a 50 day moving average of $57.15 and a 200-day moving average of $61.32. Trex Company, Inc. has a 52 week low of $49.01 and a 52 week high of $86.56.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The company had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS 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.