Teachers Retirement System of The State of Kentucky Sells 7,420 Shares of Trex Company, Inc. (NYSE:TREX)

Teachers Retirement System of The State of Kentucky decreased its stake in Trex Company, Inc. (NYSE:TREX) by 30.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,800 shares of the construction company’s stock after selling 7,420 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Trex were worth $1,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TREX. Macquarie Group Ltd. grew its holdings in Trex by 111.1% during the second quarter. Macquarie Group Ltd. now owns 3,682,629 shares of the construction company’s stock worth $376,401,000 after purchasing an additional 1,938,142 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Trex by 16.7% during the third quarter. Alliancebernstein L.P. now owns 7,256,511 shares of the construction company’s stock worth $739,656,000 after acquiring an additional 1,036,320 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Trex by 192.9% during the second quarter. Artisan Partners Limited Partnership now owns 1,289,289 shares of the construction company’s stock worth $131,778,000 after acquiring an additional 849,073 shares during the period. Blair William & Co. IL boosted its holdings in shares of Trex by 30.2% during the second quarter. Blair William & Co. IL now owns 1,240,887 shares of the construction company’s stock worth $126,831,000 after acquiring an additional 287,484 shares during the period. Finally, State Street Corp raised its position in shares of Trex by 8.3% in the second quarter. State Street Corp now owns 3,445,938 shares of the construction company’s stock valued at $352,209,000 after buying an additional 265,287 shares in the last quarter. Institutional investors own 92.78% of the company’s stock.

Shares of TREX opened at $106.95 on Friday. The stock has a market capitalization of $12.31 billion, a P/E ratio of 54.57 and a beta of 1.37. The firm’s fifty day simple moving average is $130.07 and its two-hundred day simple moving average is $112.90. Trex Company, Inc. has a 12 month low of $81.76 and a 12 month high of $140.98.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, November 8th. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Trex had a net margin of 20.21% and a return on equity of 35.57%. The firm had revenue of $335.87 million for the quarter, compared to analyst estimates of $326.01 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The business’s quarterly revenue was up 45.1% compared to the same quarter last year. As a group, research analysts forecast that Trex Company, Inc. will post 2.11 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on TREX shares. B. Riley lifted their price target on shares of Trex from $108.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, November 9th. They noted that the move was a valuation call. Barclays boosted their price objective on shares of Trex from $116.00 to $140.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 15th. Stephens boosted their target price on shares of Trex from $120.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 9th. JPMorgan Chase & Co. cut shares of Trex from a “neutral” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a research note on Wednesday, December 15th. They noted that the move was a valuation call. Finally, Robert W. Baird boosted their price objective on shares of Trex from $108.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.75.

In related news, CEO Bryan Horix Fairbanks sold 3,508 shares of the company’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $127.89, for a total value of $448,638.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dennis Charles Schemm sold 1,719 shares of the company’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $129.24, for a total transaction of $222,163.56. The disclosure for this sale can be found here. Insiders have sold 16,274 shares of company stock worth $2,123,699 in the last quarter. Company insiders own 0.69% of the company’s stock.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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