Treasurer of the State of North Carolina Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Treasurer of the State of North Carolina reduced its holdings in Trex Company, Inc. (NYSE:TREX) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,981 shares of the construction company’s stock after selling 3,018 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Trex were worth $3,243,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Trex by 97.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after purchasing an additional 393,850 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Trex in the fourth quarter valued at $247,000. SG Americas Securities LLC raised its stake in shares of Trex by 298.5% during the 4th quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company’s stock worth $424,000 after buying an additional 4,597 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Trex by 7.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock worth $1,004,000 after buying an additional 969 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Trex by 26.6% in the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock valued at $514,000 after acquiring an additional 1,566 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of TREX stock opened at $53.52 on Thursday. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The company has a 50 day moving average price of $59.31 and a 200 day moving average price of $66.67. Trex Company, Inc. has a one year low of $49.01 and a one year high of $94.00.

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

Insider Transactions at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target on the stock. Jefferies Financial Group reduced their target price on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Truist Financial dropped their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. UBS Group reduced their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.18.

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.