State of Michigan Retirement System Has $1.76 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

State of Michigan Retirement System lessened its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,422 shares of the construction company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Trex were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new position in Trex in the third quarter worth $30,000. Mather Group LLC. lifted its holdings in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC boosted its position in shares of Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Trex in the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC raised its position in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

TREX stock opened at $56.26 on Friday. The company has a 50 day moving average price of $67.68 and a 200 day moving average price of $68.50. Trex Company, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $100.77. The stock has a market capitalization of $6.03 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. Citigroup lowered their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of Trex in a report on Monday, March 3rd. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $78.63.

About Trex

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.