State of New Jersey Common Pension Fund D Purchases 2,759 Shares of Trex Company, Inc. (NYSE:TREX)

State of New Jersey Common Pension Fund D increased its position in Trex Company, Inc. (NYSE:TREX) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 40,742 shares of the construction company’s stock after buying an additional 2,759 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Trex were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Trex in the second quarter valued at approximately $19,475,000. Impax Asset Management Group plc boosted its holdings in Trex by 44.2% in the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock valued at $54,753,000 after purchasing an additional 252,262 shares during the period. Federated Hermes Inc. grew its position in Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after purchasing an additional 217,767 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of Trex during the 2nd quarter worth about $15,635,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Trex by 514.3% during the second quarter. Cubist Systematic Strategies LLC now owns 211,579 shares of the construction company’s stock valued at $15,682,000 after buying an additional 177,136 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

TREX has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Bank of America lowered their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group reduced their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Performance

Trex stock opened at $72.64 on Thursday. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The firm has a market cap of $7.78 billion, a P/E ratio of 33.17, a P/E/G ratio of 3.29 and a beta of 1.49. The business’s fifty day moving average is $67.06 and its two-hundred day moving average is $74.36.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter last year, the company posted $0.57 EPS. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, equities research analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current 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.