IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Position in Trex Company, Inc. (NYSE:TREX)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 36.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,441 shares of the construction company’s stock after selling 7,586 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Trex were worth $928,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Xponance Inc. raised its position in Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 143 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after acquiring an additional 147 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 148 shares during the period. Harrington Investments INC grew its holdings in Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after acquiring an additional 159 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock valued at $230,000 after purchasing an additional 175 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Citigroup decreased their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Bank of America lowered their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.63.

Trex Price Performance

Shares of TREX stock opened at $59.41 on Friday. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $100.33. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.51 and a beta of 1.60. The stock has a 50 day simple moving average of $64.83 and a 200-day simple moving average of $67.94.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Trex 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.