Public Employees Retirement System of Ohio Sells 3,968 Shares of Trex Company, Inc. (NYSE:TREX)

Public Employees Retirement System of Ohio trimmed its position in Trex Company, Inc. (NYSE:TREX) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,207 shares of the construction company’s stock after selling 3,968 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Trex were worth $4,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vident Advisory LLC purchased a new position in Trex during the first quarter valued at approximately $4,013,000. Broad Bay Capital Management LP raised its position in shares of Trex by 3.8% in the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock worth $34,358,000 after acquiring an additional 15,000 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Trex by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares during the last quarter. WCM Investment Management LLC boosted its position in Trex by 9.4% during the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock valued at $21,027,000 after purchasing an additional 21,486 shares in the last quarter. Finally, Duality Advisers LP grew its stake in Trex by 54.1% in the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after purchasing an additional 16,738 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TREX. Loop Capital lowered their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Citigroup reduced their price target on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group decreased their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Barclays dropped their target price on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Finally, Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Trex in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.76.

Trex Price Performance

NYSE TREX opened at $83.63 on Thursday. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The company has a market capitalization of $9.09 billion, a PE ratio of 35.89, a P/E/G ratio of 2.02 and a beta of 1.50. The company has a fifty day moving average of $80.72 and a 200 day moving average of $87.26.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The business had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Research analysts expect that Trex Company, Inc. will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company’s stock.

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.