New York State Common Retirement Fund Sells 65,862 Shares of Trex Company, Inc. (NYSE:TREX)

New York State Common Retirement Fund lowered its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,749 shares of the construction company's stock after selling 65,862 shares during the quarter. New York State Common Retirement Fund owned 0.16% of Trex worth $12,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex during the 3rd quarter valued at $30,000. Mather Group LLC. boosted its holdings in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Trex in the fourth quarter worth about $41,000. Finally, V Square Quantitative Management LLC raised its holdings in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, 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 is available at this link. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TREX shares. Jefferies Financial Group lowered their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday. UBS Group reduced their price objective on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday. DA Davidson reissued a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday. Finally, StockNews.com raised shares of Trex from a "sell" rating to a "hold" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $78.38.

Trex Price Performance

TREX traded up $1.38 during trading on Friday, reaching $61.71. 1,719,539 shares of the stock were exchanged, compared to its average volume of 1,357,255. The business's 50 day moving average price is $69.13 and its two-hundred day moving average price is $68.64. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $100.77. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. On average, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Trex Company 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.