Corebridge Financial Inc. Lowers Position in Trex Company, Inc. (NYSE:TREX)

Corebridge Financial Inc. decreased its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,461 shares of the construction company's stock after selling 7,361 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Trex worth $8,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in TREX. Wasatch Advisors LP boosted its holdings in shares of Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock valued at $271,407,000 after acquiring an additional 1,015,516 shares during the last quarter. State Street Corp raised its stake in shares of Trex by 1.2% during the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company's stock valued at $211,954,000 after buying an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Trex by 0.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company's stock valued at $135,834,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC boosted its stake in shares of Trex by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company's stock worth $124,766,000 after buying an additional 35,039 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in Trex in the fourth quarter valued at approximately $110,414,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

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Insider Transactions at Trex

In other 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 value of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TREX. Truist Financial cut their target price on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. DA Davidson reiterated a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. Jefferies Financial Group reduced their price target on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Two research 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.00.

Trex Price Performance

NYSE TREX traded up $0.32 during trading hours on Tuesday, hitting $58.42. 1,760,458 shares of the company's stock traded hands, compared to its average volume of 1,240,492. The company has a market capitalization of $6.26 billion, a PE ratio of 26.67, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 52-week low of $52.75 and a 52-week high of $97.69. The firm's 50-day moving average is $63.98 and its 200-day moving average is $67.88.

Trex (NYSE:TREX - Get Free Report) last posted 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. The business had revenue of $167.63 million during 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%. Equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.