Trex Company, Inc. (NYSE:TREX) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its position in Trex Company, Inc. (NYSE:TREX) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,549 shares of the construction company’s stock after acquiring an additional 251 shares during the quarter. Arizona State Retirement System’s holdings in Trex were worth $2,178,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Trex during the fourth quarter worth approximately $2,116,000. M&T Bank Corp raised its holdings in Trex by 5.8% during the fourth quarter. M&T Bank Corp now owns 4,290 shares of the construction company’s stock worth $296,000 after purchasing an additional 235 shares in the last quarter. Atria Investments Inc raised its holdings in Trex by 5.3% during the fourth quarter. Atria Investments Inc now owns 7,594 shares of the construction company’s stock worth $524,000 after purchasing an additional 384 shares in the last quarter. WoodTrust Financial Corp acquired a new stake in Trex during the fourth quarter worth approximately $207,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Trex by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company’s stock worth $63,965,000 after purchasing an additional 24,554 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TREX shares. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Truist Financial cut their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group cut their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. UBS Group cut their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.63.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction 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 sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Trex Price Performance

NYSE:TREX opened at $54.27 on Tuesday. The firm’s fifty day moving average price is $67.68 and its 200 day moving average price is $68.55. Trex Company, Inc. has a 1-year low of $53.66 and a 1-year high of $100.77. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, analysts expect 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.