New York State Common Retirement Fund Sells 31,120 Shares of Trex Company, Inc. (NYSE:TREX)

New York State Common Retirement Fund decreased its holdings in Trex Company, Inc. (NYSE:TREX) by 11.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 242,611 shares of the construction company’s stock after selling 31,120 shares during the quarter. New York State Common Retirement Fund’s holdings in Trex were worth $16,153,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TREX. Vanguard Group Inc. lifted its position in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after buying an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after buying an additional 60,405 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Trex by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after buying an additional 92,563 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after buying an additional 6,901 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent analyst reports. Bank of America dropped their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Benchmark lowered their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Up 2.5 %

Trex stock opened at $72.28 on Wednesday. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.22 and a beta of 1.49. The firm has a 50 day simple moving average of $65.88 and a 200 day simple moving average of $74.96.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, equities research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

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.