State of New Jersey Common Pension Fund D Reduces Holdings in Trex Company, Inc. (NYSE:TREX)

State of New Jersey Common Pension Fund D lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 59,839 shares of the construction company’s stock after selling 2,316 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Trex worth $4,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TREX. Atria Wealth Solutions Inc. grew its position in shares of Trex by 76.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 5,848 shares of the construction company’s stock valued at $484,000 after purchasing an additional 2,531 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Trex by 1.4% in the 4th quarter. Yousif Capital Management LLC now owns 51,426 shares of the construction company’s stock valued at $4,258,000 after buying an additional 722 shares during the period. Larson Financial Group LLC lifted its position in shares of Trex by 109.4% during the fourth quarter. Larson Financial Group LLC now owns 1,428 shares of the construction company’s stock worth $118,000 after purchasing an additional 746 shares in the last quarter. Martin Capital Advisors LLP raised its stake in shares of Trex by 0.7% in the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock valued at $2,130,000 after acquiring an additional 168 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Trex by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,331 shares of the construction company’s stock valued at $2,097,000 after buying an additional 1,837 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

NYSE TREX traded up $1.16 on Friday, reaching $90.57. The stock had a trading volume of 359,656 shares, compared to its average volume of 772,883. Trex Company, Inc. has a 1-year low of $51.03 and a 1-year high of $101.91. The company has a market cap of $9.84 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60. The firm has a fifty day moving average of $94.05 and a two-hundred day moving average of $80.35.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. Trex had a return on equity of 31.26% and a net margin of 18.76%. Trex’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Research analysts predict that Trex Company, Inc. will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

TREX has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Benchmark boosted their price objective on shares of Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 1st. DA Davidson upped their price target on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their target price on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their target price on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.72.

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.