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

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Trex by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company's stock valued at $60,060,000 after acquiring an additional 27,992 shares during the period. Citigroup Inc. lifted its position in shares of Trex by 42.3% during the third quarter. Citigroup Inc. now owns 68,775 shares of the construction company's stock worth $4,579,000 after purchasing an additional 20,445 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Trex by 17.8% in the third quarter. Larson Financial Group LLC now owns 3,490 shares of the construction company's stock valued at $232,000 after purchasing an additional 527 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Trex by 22.1% in the third quarter. Fisher Asset Management LLC now owns 119,296 shares of the construction company's stock valued at $7,943,000 after purchasing an additional 21,597 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Trex by 227.7% during the 3rd quarter. Bank of Montreal Can now owns 120,162 shares of the construction company's stock worth $8,158,000 after buying an additional 83,491 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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Trex Trading Up 1.1 %

Shares of NYSE TREX traded up $0.67 during midday trading on Tuesday, reaching $58.77. 386,940 shares of the company were exchanged, compared to its average volume of 1,232,068. The stock has a market cap of $6.30 billion, a P/E ratio of 26.81, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 1 year low of $52.75 and a 1 year high of $99.86. The stock has a fifty day simple moving average of $64.27 and a 200 day simple moving average of $67.93.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share 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 company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. As a group, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm'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 completion of the sale, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

TREX has been the subject of several research reports. Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. DA Davidson restated a "neutral" rating and set a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Truist Financial lowered their price objective on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.00.

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.