Illinois Municipal Retirement Fund Decreases Stake in Trex Company, Inc. (NYSE:TREX)

Illinois Municipal Retirement Fund cut its holdings in Trex Company, Inc. (NYSE:TREX) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,039 shares of the construction company’s stock after selling 6,829 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Trex were worth $1,521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Principal Securities Inc. boosted its position in Trex by 5.0% during the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after purchasing an additional 147 shares in the last quarter. Pacer Advisors Inc. boosted its position in Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after purchasing an additional 148 shares in the last quarter. CIBC Asset Management Inc boosted its position in Trex by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock worth $230,000 after purchasing an additional 175 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after purchasing an additional 184 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

Trex Trading Up 2.3 %

Trex stock opened at $61.71 on Friday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a PEG ratio of 2.51 and a beta of 1.51. The stock has a fifty day moving average price of $68.96 and a 200 day moving average price of $68.65. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $100.77.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

TREX has been the topic of a number of research analyst reports. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Citigroup cut their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trex currently has an average rating of “Hold” and an average price target of $78.38.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.