New York State Common Retirement Fund Boosts Stock Position in Trex Company, Inc. $TREX

New York State Common Retirement Fund grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 29.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,107 shares of the construction company’s stock after buying an additional 19,349 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Trex worth $4,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Steigerwald Gordon & Koch Inc. bought a new position in Trex during the 3rd quarter valued at $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Trex during the second quarter worth about $60,000. CWM LLC grew its stake in Trex by 16.8% in the second quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Trex by 10,133.3% in the second quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock valued at $67,000 after buying an additional 1,216 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Trex by 21.0% during the second quarter. Blue Trust Inc. now owns 1,377 shares of the construction company’s stock valued at $75,000 after buying an additional 239 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TREX shares. Citigroup decreased their target price on Trex from $52.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. Benchmark decreased their price objective on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $71.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Robert W. Baird set a $48.00 price target on shares of Trex in a report on Monday, January 12th. Finally, UBS Group set a $52.00 price objective on shares of Trex and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.25.

Trex Stock Up 2.5%

TREX stock opened at $44.08 on Friday. The company has a 50-day simple moving average of $38.45 and a 200 day simple moving average of $47.79. The company has a market capitalization of $4.73 billion, a P/E ratio of 23.96 and a beta of 1.58. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $73.49.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The company had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. Trex had a return on equity of 21.90% and a net margin of 16.76%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. Equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi purchased 15,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of $31.92 per share, with a total value of $478,800.00. Following the purchase, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. This trade represents a 95.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.