Clearbridge Investments LLC Lowers Stock Holdings in Trex Company, Inc. $TREX

Clearbridge Investments LLC trimmed its position in Trex Company, Inc. (NYSE:TREX) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,172,743 shares of the construction company’s stock after selling 463,623 shares during the quarter. Clearbridge Investments LLC’s holdings in Trex were worth $76,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Trex in the fourth quarter worth about $27,000. Clearstead Trust LLC purchased a new stake in shares of Trex in the fourth quarter worth about $33,000. Rothschild Investment LLC purchased a new stake in shares of Trex in the third quarter worth about $60,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Trex in the fourth quarter worth about $47,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Trex by 91.8% in the third quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock worth $78,000 after buying an additional 718 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TREX. Citigroup reissued a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of Trex in a report on Monday, May 11th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. DA Davidson reissued a “buy” rating and issued a $51.00 price target on shares of Trex in a report on Friday. UBS Group reissued a “buy” rating and issued a $59.00 price target (up from $58.00) on shares of Trex in a report on Friday, May 8th. Finally, Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $53.00 in a research note on Wednesday, February 25th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $46.42.

Trex Price Performance

Shares of TREX opened at $42.08 on Tuesday. The firm’s 50 day simple moving average is $39.48 and its 200 day simple moving average is $38.82. The company has a market capitalization of $4.37 billion, a P/E ratio of 23.51, a P/E/G ratio of 8.03 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. Trex’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. On average, equities analysts anticipate that Trex Company, Inc. will post 1.68 earnings per share for the current year.

Trex Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.