New Mexico Educational Retirement Board Makes New $731,000 Investment in Trex Company Inc (NYSE:TREX)

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New Mexico Educational Retirement Board bought a new position in shares of Trex Company Inc (NYSE:TREX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,200 shares of the construction company’s stock, valued at approximately $731,000.

A number of other large investors have also modified their holdings of TREX. William Blair Investment Management LLC boosted its position in Trex by 69.1% during the first quarter. William Blair Investment Management LLC now owns 2,864,456 shares of the construction company’s stock worth $176,221,000 after purchasing an additional 1,170,545 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Trex in the second quarter valued at approximately $25,812,000. SG Capital Management LLC bought a new position in shares of Trex in the second quarter valued at approximately $21,195,000. Handelsbanken Fonder AB boosted its position in shares of Trex by 151.3% in the second quarter. Handelsbanken Fonder AB now owns 490,000 shares of the construction company’s stock valued at $35,133,000 after acquiring an additional 295,000 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in shares of Trex by 11.0% in the first quarter. Wasatch Advisors Inc. now owns 2,108,330 shares of the construction company’s stock valued at $129,704,000 after acquiring an additional 208,121 shares during the period. Hedge funds and other institutional investors own 94.42% of the company’s stock.

Shares of TREX stock traded up $0.37 during trading hours on Wednesday, hitting $82.90. 1,701 shares of the company’s stock were exchanged, compared to its average volume of 957,591. The company has a market capitalization of $4.78 billion, a PE ratio of 34.98, a PEG ratio of 3.47 and a beta of 2.12. Trex Company Inc has a 12-month low of $50.88 and a 12-month high of $90.74. The business’s 50 day simple moving average is $77.51 and its 200-day simple moving average is $71.47. The company has a current ratio of 3.51, a quick ratio of 2.99 and a debt-to-equity ratio of 0.09.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $206.45 million for the quarter, compared to the consensus estimate of $201.70 million. Trex had a net margin of 17.61% and a return on equity of 35.94%. The business’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. Equities analysts anticipate that Trex Company Inc will post 2.36 EPS for the current year.

In other Trex news, VP Jay T. Scripter sold 25,758 shares of Trex stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $69.15, for a total transaction of $1,781,165.70. Following the transaction, the vice president now directly owns 573 shares of the company’s stock, valued at $39,622.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Paul Gerhard sold 9,724 shares of Trex stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $81.10, for a total transaction of $788,616.40. Following the completion of the transaction, the vice president now directly owns 25,810 shares in the company, valued at $2,093,191. The disclosure for this sale can be found here. Insiders have sold 87,275 shares of company stock worth $6,487,036 over the last three months. Insiders own 0.93% of the company’s stock.

A number of research firms have recently commented on TREX. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. William Blair initiated coverage on shares of Trex in a research note on Thursday, August 22nd. They issued an “outperform” rating on the stock. DA Davidson raised their target price on shares of Trex to $87.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, SunTrust Banks raised their target price on shares of Trex to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $77.78.

Trex Profile

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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