Public Employees Retirement Association of Colorado Has $612,000 Position in Trex Company, Inc. (TREX)

Public Employees Retirement Association of Colorado lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 21.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,630 shares of the construction company’s stock after selling 1,511 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Trex were worth $612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TREX. Louisiana State Employees Retirement System boosted its stake in shares of Trex by 6.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the construction company’s stock valued at $1,377,000 after acquiring an additional 800 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Trex by 5.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 144,224 shares of the construction company’s stock valued at $15,633,000 after acquiring an additional 6,912 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Trex by 31,105.6% during the fourth quarter. Acadian Asset Management LLC now owns 22,468 shares of the construction company’s stock valued at $2,435,000 after acquiring an additional 22,396 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Trex by 13.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 670,834 shares of the construction company’s stock valued at $72,712,000 after acquiring an additional 78,200 shares during the last quarter. Finally, Cim LLC acquired a new stake in shares of Trex during the fourth quarter valued at $595,000. 90.78% of the stock is currently owned by institutional investors and hedge funds.

TREX has been the topic of a number of analyst reports. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Thursday, May 10th. B. Riley raised their price target on Trex to $126.00 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Sidoti raised Trex from a “neutral” rating to a “buy” rating and set a $127.00 price target on the stock in a research note on Tuesday, May 8th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $110.00 price target (up from $100.00) on shares of Trex in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $108.57.

In other Trex news, CFO Bryan Horix Fairbanks sold 2,472 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $113.94, for a total value of $281,659.68. Following the sale, the chief financial officer now directly owns 22,183 shares of the company’s stock, valued at approximately $2,527,531.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank H. Merlotti, Jr. sold 1,481 shares of Trex stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $111.50, for a total value of $165,131.50. Following the completion of the transaction, the director now directly owns 11,674 shares in the company, valued at $1,301,651. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,427 shares of company stock worth $7,399,571. 0.95% of the stock is owned by corporate insiders.

Shares of NYSE:TREX opened at $117.58 on Friday. Trex Company, Inc. has a 12-month low of $61.57 and a 12-month high of $125.93. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 37.21 and a beta of 2.27.

Trex shares are scheduled to split on the morning of Wednesday, May 30th. The 2-1 split was announced on Monday, May 7th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, June 15th.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, May 7th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. Trex had a return on equity of 45.74% and a net margin of 17.63%. The firm had revenue of $171.20 million for the quarter, compared to analyst estimates of $172.18 million. During the same period last year, the company earned $0.95 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. equities analysts predict that Trex Company, Inc. will post 4.26 earnings per share for the current year.

Trex declared that its board has authorized a stock repurchase plan on Wednesday, February 21st that permits the company to repurchase 2,900,000 outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Trex Company Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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