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

Illinois Municipal Retirement Fund trimmed its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TREX. Wilmington Savings Fund Society FSB purchased a new position in Trex during the third quarter valued at approximately $30,000. Mather Group LLC. boosted its position in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares during the period. Eagle Bay Advisors LLC bought a new position in shares of Trex in the 4th quarter worth $41,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on TREX. Jefferies Financial Group reduced their target price on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Bank of America reduced their price objective on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Benchmark reissued a "buy" rating and set a $80.00 target price on shares of Trex in a research report on Monday. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com upgraded Trex from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $78.38.

Trex Price Performance

NYSE:TREX traded down $2.20 during midday trading on Monday, hitting $59.49. The company's stock had a trading volume of 1,354,659 shares, compared to its average volume of 1,357,276. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $100.77. The firm has a market cap of $6.37 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.51 and a beta of 1.51. The firm's 50 day moving average is $68.96 and its 200-day moving average is $68.76.

Trex (NYSE:TREX - Get Free Report) last released 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 firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. As a group, analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current 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.