The Manufacturers Life Insurance Company Has $35.23 Million Stake in Trex Company, Inc. (NYSE:TREX)

The Manufacturers Life Insurance Company lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 462.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,146 shares of the construction company’s stock after buying an additional 435,055 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Trex were worth $35,231,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TREX. Bank of Montreal Can grew its stake in Trex by 227.7% during the third quarter. Bank of Montreal Can now owns 120,162 shares of the construction company’s stock worth $8,158,000 after purchasing an additional 83,491 shares during the period. Associated Banc Corp boosted its holdings in shares of Trex by 5.3% during the 3rd quarter. Associated Banc Corp now owns 11,191 shares of the construction company’s stock worth $745,000 after buying an additional 562 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Trex by 237.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after buying an additional 37,362 shares during the period. Fisher Asset Management LLC lifted its position in shares of Trex by 22.1% during the 3rd quarter. Fisher Asset Management LLC now owns 119,296 shares of the construction company’s stock valued at $7,943,000 after acquiring an additional 21,597 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Trex by 17.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,490 shares of the construction company’s stock valued at $232,000 after acquiring an additional 527 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. B. Riley dropped their price target on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Benchmark reduced their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.94.

Trex Price Performance

NYSE TREX opened at $75.03 on Friday. The business’s fifty day moving average is $68.49 and its 200-day moving average is $73.00. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.39 and a beta of 1.49. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. Research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

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.