Clearbridge Investments LLC Trims Stake in Trex Company, Inc. (NYSE:TREX)

Clearbridge Investments LLC lessened its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,347,062 shares of the construction company's stock after selling 576,490 shares during the quarter. Clearbridge Investments LLC owned about 3.12% of Trex worth $231,048,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Schroder Investment Management Group grew its position in Trex by 1.0% during the fourth quarter. Schroder Investment Management Group now owns 237,343 shares of the construction company's stock valued at $16,431,000 after buying an additional 2,432 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Trex by 123.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 383,303 shares of the construction company's stock valued at $26,459,000 after acquiring an additional 211,406 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Trex by 7.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after purchasing an additional 969 shares in the last quarter. Norges Bank bought a new position in Trex in the 4th quarter worth $54,084,000. Finally, Summitry LLC bought a new stake in Trex during the fourth quarter valued at about $221,000. 95.96% of the stock is currently owned by institutional investors.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on 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 approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Citigroup cut their price target on 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 reaffirmed a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Finally, UBS Group dropped their price target on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $79.00.

Trex Trading Down 0.8 %

Shares of NYSE TREX traded down $0.42 during trading hours on Friday, hitting $54.96. 3,363,987 shares of the company traded hands, compared to its average volume of 1,259,675. The company's 50 day moving average price is $62.97 and its 200 day moving average price is $67.66. Trex Company, Inc. has a 12 month low of $50.35 and a 12 month high of $97.69. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

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 net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

About Trex

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.