New York State Common Retirement Fund Has $14.47 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

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New York State Common Retirement Fund decreased its holdings in shares of Trex Company, Inc. (NYSE:TREXGet Rating) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,469 shares of the construction company’s stock after selling 11,183 shares during the period. New York State Common Retirement Fund owned about 0.19% of Trex worth $14,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank N A MO bought a new position in Trex during the fourth quarter worth about $32,000. Confluence Wealth Services Inc. bought a new position in shares of Trex in the fourth quarter valued at approximately $46,000. Dupont Capital Management Corp bought a new position in shares of Trex in the fourth quarter valued at approximately $47,000. Sageworth Trust Co of South Dakota bought a new position in shares of Trex in the fourth quarter valued at approximately $70,000. Finally, Benjamin Edwards Inc. raised its stake in shares of Trex by 1,120.8% in the fourth quarter. Benjamin Edwards Inc. now owns 586 shares of the construction company’s stock valued at $79,000 after acquiring an additional 538 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Credit Suisse Group upgraded shares of Trex from an “underperform” rating to a “neutral” rating and set a $65.00 target price for the company in a research note on Tuesday, May 10th. Bank of America assumed coverage on shares of Trex in a report on Monday, April 25th. They issued an “underperform” rating and a $60.00 price target for the company. Truist Financial lowered their price target on shares of Trex from $120.00 to $90.00 in a report on Tuesday, May 10th. BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating and set a $75.00 price target for the company in a report on Friday, May 20th. Finally, Exane BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating in a report on Friday, May 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $87.94.

Trex Stock Up 2.6 %

Shares of TREX stock opened at $64.61 on Friday. Trex Company, Inc. has a 12-month low of $49.31 and a 12-month high of $140.98. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The firm has a fifty day moving average of $59.13 and a 200-day moving average of $68.47.

Trex (NYSE:TREXGet Rating) last announced its quarterly earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. Trex had a net margin of 17.90% and a return on equity of 38.31%. The company had revenue of $339.23 million during the quarter, compared to analyst estimates of $326.67 million. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 38.2% on a year-over-year basis. Research analysts expect that Trex Company, Inc. will post 2.47 earnings per share for the current year.

Trex Company Profile

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Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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