Utah Retirement Systems Has $866,000 Stake in Trex Company, Inc. (NYSE:TREX)

Posted by on Mar 14th, 2023

Utah Retirement Systems decreased its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,700 shares of the construction company’s stock after selling 900 shares during the period. Utah Retirement Systems’ holdings in Trex were worth $866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd increased its stake in Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after acquiring an additional 245 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Trex by 110.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 857 shares of the construction company’s stock valued at $47,000 after purchasing an additional 449 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Trex during the 1st quarter worth $67,000. Exchange Traded Concepts LLC raised its stake in Trex by 19.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,560 shares of the construction company’s stock worth $69,000 after acquiring an additional 255 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Trex by 442.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,601 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,306 shares during the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TREX has been the topic of a number of recent research reports. Stephens lifted their price target on Trex from $53.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $43.00 price objective on shares of Trex in a research note on Tuesday, February 28th. Barclays upped their target price on Trex from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 28th. Robert W. Baird raised their price target on shares of Trex from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Trex from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, January 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.24.

Trex Stock Performance

TREX opened at $48.66 on Tuesday. Trex Company, Inc. has a 52-week low of $38.68 and a 52-week high of $81.19. The company’s 50-day simple moving average is $51.56 and its two-hundred day simple moving average is $47.73. The stock has a market capitalization of $5.29 billion, a P/E ratio of 29.85, a P/E/G ratio of 5.75 and a beta of 1.49.

Trex (NYSE:TREX – Get Rating) last announced its earnings results on Monday, February 27th. The construction company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $192.10 million for the quarter, compared to analysts’ expectations of $185.46 million. Trex had a return on equity of 32.97% and a net margin of 16.69%. Trex’s revenue for the quarter was down 36.8% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Research analysts forecast that Trex Company, Inc. will post 1.54 EPS for the current fiscal year.

Trex Profile

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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

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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