Retirement Systems of Alabama Decreases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Retirement Systems of Alabama lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,053 shares of the construction company’s stock after selling 2,100 shares during the period. Retirement Systems of Alabama’s holdings in Trex were worth $8,792,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TREX. American Trust boosted its holdings in Trex by 7.9% in the third quarter. American Trust now owns 3,367 shares of the construction company’s stock valued at $224,000 after purchasing an additional 246 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Trex by 73.1% during the 3rd quarter. Tidal Investments LLC now owns 14,836 shares of the construction company’s stock worth $988,000 after buying an additional 6,263 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Trex in the 3rd quarter valued at $30,000. Virtu Financial LLC grew its position in shares of Trex by 29.2% in the 3rd quarter. Virtu Financial LLC now owns 12,566 shares of the construction company’s stock valued at $837,000 after buying an additional 2,838 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Trex by 38.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,873 shares of the construction company’s stock worth $191,000 after acquiring an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TREX. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays decreased their target price on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. BMO Capital Markets lifted their price target on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, DA Davidson lifted their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Stock Down 1.0 %

NYSE TREX opened at $76.86 on Wednesday. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a 50-day moving average price of $70.78 and a 200 day moving average price of $71.89. The stock has a market capitalization of $8.23 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.50 and a beta of 1.49.

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

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.