Clearbridge Investments LLC Has $76.22 Million Position in Trex Company, Inc. $TREX

Clearbridge Investments LLC lessened its stake in shares of Trex Company, Inc. (NYSE:TREX) by 17.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,172,743 shares of the construction company’s stock after selling 463,623 shares during the period. Clearbridge Investments LLC owned 2.03% of Trex worth $76,220,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Trex during the 4th quarter valued at $27,000. Clearstead Trust LLC acquired a new position in shares of Trex during the 4th quarter valued at $33,000. Rothschild Investment LLC bought a new stake in Trex during the 3rd quarter valued at $60,000. Eurizon Capital SGR S.p.A. bought a new stake in Trex during the 4th quarter valued at $47,000. Finally, Clearstead Advisors LLC increased its stake in Trex by 91.8% during the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock valued at $78,000 after purchasing an additional 718 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the subject of several research reports. Barclays restated an “underweight” rating and set a $36.00 price target (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Benchmark lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Citigroup restated a “neutral” rating and set a $43.00 price target (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Finally, Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.42.

Trex Stock Up 6.1%

NYSE TREX opened at $42.08 on Tuesday. The company has a market cap of $4.37 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 8.03 and a beta of 1.51. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78. The firm’s 50-day simple moving average is $39.48 and its two-hundred day simple moving average is $38.82.

Trex (NYSE:TREX) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate 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%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, equities research analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current year.

About Trex

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.