63,470 Shares in Trex Company, Inc. $TREX Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Trex Company, Inc. (NYSE:TREX) during the second quarter, HoldingsChannel reports. The firm purchased 63,470 shares of the construction company’s stock, valued at approximately $3,176,000.

Several other hedge funds have also added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in shares of Trex by 26.6% during the 1st quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock worth $4,710,000 after buying an additional 27,189 shares during the period. Principal Financial Group Inc. raised its holdings in Trex by 32.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,098,189 shares of the construction company’s stock valued at $38,524,000 after acquiring an additional 266,580 shares during the period. Havemeyer Place LP bought a new position in Trex in the 4th quarter valued at about $1,417,000. BlackRock Inc. acquired a new stake in Trex during the second quarter worth approximately $525,081,000. Finally, Wesbanco Bank Inc. acquired a new stake in Trex during the first quarter worth approximately $932,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

TREX has been the topic of several research reports. Stephens upped their target price on Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reissued a “buy” rating and set a $56.00 price target (up from $49.00) on shares of Trex in a report on Friday, July 10th. Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $61.00 price objective (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. Finally, BMO Capital Markets set a $57.00 price objective on Trex in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $49.30.

Trex Stock Up 4.4%

Shares of NYSE:TREX opened at $45.63 on Friday. The company’s 50 day moving average price is $46.35 and its two-hundred day moving average price is $42.52. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $66.06. The firm has a market cap of $4.74 billion, a PE ratio of 27.16, a PEG ratio of 3.02 and a beta of 1.47.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The business had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, research analysts expect that Trex Company, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by company insiders.

Trex Company Profile

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.