Trex Company, Inc. (NYSE:TREX) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in Trex Company, Inc. (NYSE:TREX) by 8.3% in the 3rd quarter, Holdings Channel reports. The firm owned 43,093 shares of the construction company’s stock after selling 3,908 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Trex were worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Trex by 69.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock worth $2,073,000 after buying an additional 11,455 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Trex in the 2nd quarter worth approximately $19,475,000. L & S Advisors Inc purchased a new position in Trex in the 3rd quarter worth approximately $1,000,000. Algert Global LLC boosted its holdings in shares of Trex by 81.3% during the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after purchasing an additional 38,700 shares during the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Trex by 27.2% in the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after purchasing an additional 14,558 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.8 %

Trex stock opened at $77.57 on Tuesday. The firm has a market capitalization of $8.31 billion, a P/E ratio of 35.42, a P/E/G ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The stock’s fifty day simple moving average is $70.78 and its 200-day simple moving average is $71.89.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. Sell-side analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TREX. Jefferies Financial Group lowered their price objective on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Barclays dropped their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $79.94.

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.