State of New Jersey Common Pension Fund D Has $4.95 Million Holdings in Trex Company, Inc. (NYSE:TREX)

State of New Jersey Common Pension Fund D cut its stake in shares of Trex Company, Inc. (NYSE:TREX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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’s holdings in Trex were worth $4,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TREX. Shell Asset Management Co. grew its holdings in shares of Trex by 0.5% during the third quarter. Shell Asset Management Co. now owns 35,605 shares of the construction company’s stock worth $2,194,000 after purchasing an additional 163 shares in the last quarter. Martin Capital Advisors LLP increased its holdings in shares of Trex by 0.7% during 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. Fifth Third Bancorp boosted its position in shares of Trex by 13.2% during the fourth quarter. Fifth Third Bancorp now owns 1,554 shares of the construction company’s stock valued at $129,000 after buying an additional 181 shares during the last quarter. Inspire Investing LLC boosted its position in Trex by 4.2% in the third quarter. Inspire Investing LLC now owns 4,960 shares of the construction company’s stock worth $306,000 after purchasing an additional 201 shares during the last quarter. Finally, Mitchell Capital Management Co. boosted its position in Trex by 0.4% in the third quarter. Mitchell Capital Management Co. now owns 64,386 shares of the construction company’s stock worth $3,968,000 after purchasing an additional 234 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

Trex stock traded up $1.16 during midday trading on Friday, reaching $90.57. The company’s stock had a trading volume of 359,656 shares, compared to its average volume of 772,883. The firm has a market capitalization of $9.84 billion, a PE ratio of 48.29, a P/E/G ratio of 2.00 and a beta of 1.60. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91. The stock’s 50 day simple moving average is $94.05 and its 200 day simple moving average is $80.35.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on TREX shares. JPMorgan Chase & Co. lifted their target price on Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. DA Davidson raised their target price on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. The Goldman Sachs Group upped their price target on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Barclays raised their price objective on Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Trex from $90.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.