Rafferty Asset Management LLC decreased its position in shares of Trex Company Inc (NYSE:TREX) by 36.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,229 shares of the construction company’s stock after selling 2,389 shares during the period. Rafferty Asset Management LLC’s holdings in Trex were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in shares of Trex by 120.0% in the 2nd quarter. Raymond James & Associates now owns 51,213 shares of the construction company’s stock worth $3,205,000 after purchasing an additional 27,935 shares during the last quarter. Cim LLC grew its position in shares of Trex by 63.8% during the 3rd quarter. Cim LLC now owns 20,490 shares of the construction company’s stock valued at $1,577,000 after buying an additional 7,979 shares during the last quarter. Swiss National Bank grew its position in shares of Trex by 100.0% during the 2nd quarter. Swiss National Bank now owns 102,600 shares of the construction company’s stock valued at $6,422,000 after buying an additional 51,300 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Trex by 100.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,038 shares of the construction company’s stock valued at $4,258,000 after buying an additional 34,138 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Trex by 99.1% during the 2nd quarter. New York State Teachers Retirement System now owns 42,466 shares of the construction company’s stock valued at $2,658,000 after buying an additional 21,133 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TREX opened at $61.50 on Wednesday. Trex Company Inc has a fifty-two week low of $50.72 and a fifty-two week high of $90.74. The stock has a market cap of $3.74 billion, a P/E ratio of 38.92 and a beta of 2.27.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $166.38 million during the quarter, compared to the consensus estimate of $173.10 million. Trex had a net margin of 19.16% and a return on equity of 46.55%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, research analysts expect that Trex Company Inc will post 2.29 earnings per share for the current year.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Sidoti downgraded shares of Trex from a “buy” rating to a “neutral” rating in a research report on Friday, August 10th. Finally, SunTrust Banks lowered their price objective on shares of Trex to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Trex presently has an average rating of “Hold” and a consensus price target of $36.35.

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Trex Company Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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