Clearbridge Investments LLC Sells 576,490 Shares of Trex Company, Inc. (NYSE:TREX)

Clearbridge Investments LLC decreased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 14.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,347,062 shares of the construction company’s stock after selling 576,490 shares during the quarter. Clearbridge Investments LLC’s holdings in Trex were worth $231,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TREX. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex during the third quarter valued at approximately $30,000. Mather Group LLC. increased 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 purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Trex in the 4th quarter worth about $41,000. Finally, V Square Quantitative Management LLC boosted 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 valued at $43,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TREX. Truist Financial decreased their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. UBS Group lowered their target price on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, Jefferies Financial Group lowered their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.63.

Trex Stock Down 3.3 %

Shares of NYSE TREX opened at $57.38 on Monday. The firm has a market cap of $6.15 billion, a P/E ratio of 26.20, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $99.86. The company has a 50 day moving average of $64.54 and a 200 day moving average of $67.97.

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

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Trex Company 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.