MML Investors Services LLC Increases Stake in Trex Company, Inc. (NYSE:TREX)

MML Investors Services LLC increased its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 22.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,438 shares of the construction company's stock after acquiring an additional 6,736 shares during the quarter. MML Investors Services LLC's holdings in Trex were worth $2,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TREX. Wealth Enhancement Advisory Services LLC increased its stake in Trex by 69.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company's stock valued at $2,073,000 after purchasing an additional 11,455 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Trex in the 2nd quarter valued at about $19,475,000. L & S Advisors Inc bought a new stake in Trex in the 3rd quarter valued at about $1,000,000. Algert Global LLC raised its stake in Trex by 81.3% during the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock worth $5,746,000 after buying an additional 38,700 shares during the period. Finally, Curi RMB Capital LLC raised its stake in Trex by 27.2% during the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company's stock worth $4,537,000 after buying an additional 14,558 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on TREX. Jefferies Financial Group dropped their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research report on Wednesday, October 9th. DA Davidson lifted their target price on shares of Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Barclays dropped their price target on Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $79.94.

Trex Stock Up 0.8 %

Shares of TREX stock traded up $0.59 during mid-day trading on Monday, reaching $77.57. 1,264,424 shares of the company's stock traded hands, compared to its average volume of 1,041,236. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a market cap of $8.31 billion, a P/E ratio of 35.42, a P/E/G ratio of 3.50 and a beta of 1.49. The company's 50-day moving average price is $70.78 and its 200-day moving average price is $71.89.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's revenue was down 23.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. Equities analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current 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.