New York State Common Retirement Fund Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

New York State Common Retirement Fund decreased its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,611 shares of the construction company's stock after selling 31,120 shares during the period. New York State Common Retirement Fund owned 0.22% of Trex worth $16,153,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company's stock valued at $1,028,829,000 after acquiring an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Trex by 3.2% in the second 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. boosted its stake in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company's stock valued at $136,631,000 after buying an additional 122,658 shares during the period. Dimensional Fund Advisors LP grew its position in Trex by 8.2% during the second 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 increased its stake in Trex by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company's stock worth $84,803,000 after acquiring an additional 6,901 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Trex stock traded up $0.12 during mid-day trading on Wednesday, reaching $72.38. 1,916,927 shares of the company traded hands, compared to its average volume of 1,021,010. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.21 and a beta of 1.49. The firm's 50 day moving average price is $65.88 and its 200 day moving average price is $74.96.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million for the quarter, compared to analysts' expectations of $225.42 million. During the same quarter in the previous year, the business posted $0.57 EPS. The company's quarterly revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

TREX has been the subject of several research reports. Stephens lowered shares of Trex from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on Trex from $114.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, July 10th. Barclays dropped their target price on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research report on Tuesday, October 29th. UBS Group decreased their price target on shares of Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut their price objective on shares of Trex from $77.00 to $73.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $79.94.

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.