Trex Company (TREX) Rendered a Strong Performance in Q4

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy featured stocks such as Trex Company, Inc. (NYSE:TREX) in the fourth quarter 2023 investor letter. Headquartered in Winchester, Virginia, Trex Company, Inc. (NYSE:TREX) is a decking, railing, and outdoor living products and accessories manufacturer. On January 12, 2024, Trex Company, Inc. (NYSE:TREX) stock closed at $81.92 per share. One-month return of Trex Company, Inc. (NYSE:TREX) was 2.12%, and its shares gained 61.48% of their value over the last 52 weeks. Trex Company, Inc. (NYSE:TREX) has a market capitalization of $8.896 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Trex Company, Inc. (NYSE:TREX) in its fourth quarter 2023 investor letter:

“Two sectors that saw stronger performance into year-end were financials and industrials, both of which were solid performers in the fourth quarter. This was largely driven by stock-specific performance. Long-standing holding Trex Company, Inc. (NYSE:TREX), a provider of composite decking, rebounded from destocking in 2022 along with continued material conversion from lumber decking.”

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Trex Company, Inc. (NYSE:TREX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Trex Company, Inc. (NYSE:TREX) at the end of third quarter which was 43 in the previous quarter.

We discussed Trex Company, Inc. (NYSE:TREX) in another article and shared ClearBridge Investments’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.