Trex Company, Inc. (NYSE:TREX) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,663 shares of the construction company’s stock after selling 300 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Trex were worth $1,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AustralianSuper Pty Ltd acquired a new position in Trex during the 4th quarter worth $110,414,000. Wasatch Advisors LP lifted its holdings in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after buying an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TREX shares. JPMorgan Chase & Co. decreased their price objective on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Truist Financial decreased their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, March 3rd. Jefferies Financial Group cut their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Finally, DA Davidson reiterated a “neutral” rating and issued a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.63.

Trex Stock Up 0.1 %

TREX opened at $62.05 on Wednesday. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.61. The firm has a market capitalization of $6.65 billion, a P/E ratio of 28.33, a PEG ratio of 2.51 and a beta of 1.60. The stock has a fifty day moving average of $65.27 and a 200-day moving average of $68.05.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. On average, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

About Trex

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.