California State Teachers Retirement System Increases Stake in Trex Company, Inc. $TREX

California State Teachers Retirement System lifted its position in Trex Company, Inc. (NYSE:TREX) by 26.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 129,321 shares of the construction company’s stock after acquiring an additional 27,189 shares during the period. California State Teachers Retirement System’s holdings in Trex were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Trex during the fourth quarter valued at approximately $27,000. Clearstead Trust LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new position in shares of Trex during the 1st quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Trex during the 4th quarter valued at approximately $47,000. Finally, Empowered Funds LLC acquired a new position in shares of Trex in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX stock opened at $49.17 on Friday. The stock’s 50-day moving average is $45.50 and its two-hundred day moving average is $41.94. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $66.06. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 3.31 and a beta of 1.48.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). Trex had a return on equity of 18.03% and a net margin of 14.68%.The business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. During the same quarter last year, the company posted $0.71 EPS. Trex’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Trex Company, Inc. will post 1.78 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on TREX. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, May 18th. Truist Financial boosted their price objective on Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Barclays reaffirmed an “underweight” rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Trex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Trex has an average rating of “Hold” and an average price target of $49.20.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the transaction, the senior vice president owned 36,631 shares in the company, valued at approximately $1,831,550. This represents a 3.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.93% of the company’s stock.

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.