Oregon Public Employees Retirement Fund Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Oregon Public Employees Retirement Fund cut its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,807 shares of the construction company’s stock after selling 291 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Trex were worth $1,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TREX. AustralianSuper Pty Ltd purchased a new position in Trex during the fourth quarter worth about $110,414,000. Wasatch Advisors LP raised its position 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 acquiring an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after acquiring an additional 839,837 shares during the period. Point72 Asset Management L.P. raised its position in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after acquiring an additional 511,163 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after acquiring an additional 435,055 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TREX. Bank of America lowered their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group lowered their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. DA Davidson reaffirmed a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research report on Tuesday. Truist Financial lowered their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $78.38.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The shares were 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 of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Trex Trading Up 2.3 %

Shares of NYSE:TREX opened at $61.71 on Friday. The company has a 50 day moving average of $69.13 and a 200 day moving average of $68.64. The stock has a market cap of $6.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $100.77.

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

Trex Profile

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.