State of Tennessee Treasury Department reduced its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,864 shares of the construction company’s stock after selling 1,635 shares during the period. State of Tennessee Treasury Department owned about 0.09% of Trex worth $2,330,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC purchased a new stake in Trex during the second quarter valued at approximately $76,849,000. Wasatch Advisors Inc. increased its holdings in Trex by 9.6% during the second quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after buying an additional 83,274 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Trex by 4.9% during the second quarter. Eagle Asset Management Inc. now owns 932,946 shares of the construction company’s stock valued at $63,123,000 after buying an additional 43,648 shares during the last quarter. State Street Corp increased its holdings in Trex by 4.7% during the second quarter. State Street Corp now owns 724,301 shares of the construction company’s stock valued at $49,003,000 after buying an additional 32,626 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in Trex by 14.4% during the third quarter. Conestoga Capital Advisors LLC now owns 592,634 shares of the construction company’s stock valued at $53,379,000 after buying an additional 74,648 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Trex Company, Inc. (NYSE TREX) opened at $108.01 on Friday. The firm has a market cap of $3,178.19, a price-to-earnings ratio of 35.65 and a beta of 2.41. Trex Company, Inc. has a 52 week low of $61.57 and a 52 week high of $112.39.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The business had revenue of $140.19 million during the quarter, compared to analyst estimates of $125.30 million. During the same quarter last year, the business earned $0.26 earnings per share. Trex’s quarterly revenue was up 32.0% compared to the same quarter last year. analysts predict that Trex Company, Inc. will post 3.11 EPS for the current fiscal year.

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In other news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay T. Scripter sold 1,116 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total transaction of $121,186.44. Following the completion of the sale, the vice president now owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on TREX. SunTrust Banks, Inc. reissued a “hold” rating and issued a $95.00 price objective on shares of Trex in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $89.00 price objective on shares of Trex in a research note on Wednesday, November 1st. B. Riley reissued a “neutral” rating and issued a $96.00 price objective (up from $80.00) on shares of Trex in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Trex from a “sell” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Thursday, November 2nd. Finally, Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a research note on Monday, October 2nd. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $90.00.

Trex Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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