Clearbridge Investments LLC Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Clearbridge Investments LLC decreased its position in Trex Company, Inc. (NYSE:TREX) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,347,062 shares of the construction company’s stock after selling 576,490 shares during the period. Clearbridge Investments LLC owned 3.12% of Trex worth $231,048,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex in the 3rd quarter worth about $30,000. Mather Group LLC. raised its position in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC boosted its stake in Trex by 1,212.8% in the fourth 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 last quarter. Eagle Bay Advisors LLC bought a new position in shares of Trex during the 4th quarter valued at approximately $41,000. Finally, V Square Quantitative Management LLC increased 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.

Trex Stock Down 3.3 %

TREX opened at $57.38 on Monday. The business’s fifty day simple moving average is $64.54 and its 200 day simple moving average is $67.97. Trex Company, Inc. has a 52 week low of $52.75 and a 52 week high of $99.86. The stock has a market cap of $6.15 billion, a PE ratio of 26.20, a P/E/G ratio of 2.51 and a beta of 1.60.

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

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the 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 directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on TREX. JPMorgan Chase & Co. reduced their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Truist Financial decreased their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group dropped their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Finally, StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $78.63.

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.