State of New Jersey Common Pension Fund D Has $2.44 Million Holdings in Trex Company, Inc. $TREX

State of New Jersey Common Pension Fund D increased its stake in Trex Company, Inc. (NYSE:TREX) by 76.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 69,509 shares of the construction company’s stock after purchasing an additional 30,191 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Trex were worth $2,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. M&T Bank Corp bought a new stake in Trex during the 4th quarter worth about $206,000. Kestra Private Wealth Services LLC grew its holdings in shares of Trex by 46.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 84,170 shares of the construction company’s stock valued at $2,953,000 after acquiring an additional 26,818 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Trex by 8.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,683 shares of the construction company’s stock valued at $620,000 after acquiring an additional 1,400 shares during the last quarter. Quent Capital LLC increased its position in shares of Trex by 8,568.9% in the fourth quarter. Quent Capital LLC now owns 10,316 shares of the construction company’s stock valued at $362,000 after acquiring an additional 10,197 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Trex in the fourth quarter valued at about $215,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of TREX stock opened at $39.91 on Thursday. The firm’s 50-day moving average is $38.91 and its 200-day moving average is $39.17. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 8.58 and a beta of 1.51. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $68.78.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $161.13 million for the quarter, compared to analysts’ expectations of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. Trex’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. Sell-side analysts predict that Trex Company, Inc. will post 1.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TREX. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Bank of America lowered their target price on Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Zacks Research raised Trex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Trex in a research report on Friday, March 27th. Finally, Barclays lowered their target price on Trex from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and an average price target of $48.00.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.